Stanley Laman Group Ltd. Takes $462,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Stanley Laman Group Ltd. acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 8,872 shares of the bank’s stock, valued at approximately $462,000.

A number of other hedge funds also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Bank of New York Mellon by 22.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after acquiring an additional 40,969 shares in the last quarter. Trust Point Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $310,000. WCG Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 3rd quarter worth approximately $1,552,000. Meeder Asset Management Inc. acquired a new stake in Bank of New York Mellon during the fourth quarter valued at approximately $1,298,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Bank of New York Mellon by 22.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock worth $109,088,000 after buying an additional 465,229 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. UBS Group lifted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Citigroup upped their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Price Performance

Shares of NYSE BK traded up $0.13 during midday trading on Friday, reaching $57.31. 2,058,025 shares of the company were exchanged, compared to its average volume of 3,953,566. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The stock has a market cap of $43.15 billion, a P/E ratio of 13.98, a PEG ratio of 1.25 and a beta of 1.12. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The stock’s 50-day moving average price is $56.01 and its 200-day moving average price is $51.77.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Insider Buying and Selling

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,568 shares of company stock worth $5,459,897. 0.14% of the stock is owned by company insiders.

About Bank of New York Mellon

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.