Shell Asset Management Co. Purchases 15,337 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Shell Asset Management Co. increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 41.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 52,128 shares of the bank’s stock after purchasing an additional 15,337 shares during the period. Shell Asset Management Co.’s holdings in Bank of New York Mellon were worth $4,005,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $28,000. Transce3nd LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $33,000. South Plains Financial Inc. acquired a new position in shares of Bank of New York Mellon in the fourth quarter valued at $34,000. Finally, Graney & King LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at about $35,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.5%

BK opened at $89.30 on Friday. The stock has a market capitalization of $63.89 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.97 and a beta of 1.05. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.34. The company has a 50-day simple moving average of $80.89 and a 200 day simple moving average of $81.24.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 EPS. Analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the sale, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,114 shares of company stock worth $7,869,795. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. UBS Group boosted their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Truist Financial decreased their target price on Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Finally, Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.31.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.