Forte Capital LLC ADV Trims Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Forte Capital LLC ADV cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,677 shares of the bank’s stock after selling 1,337 shares during the period. Forte Capital LLC ADV’s holdings in Bank of New York Mellon were worth $2,325,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BK. Northern Trust Corp increased its holdings in shares of Bank of New York Mellon by 8.2% in the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after purchasing an additional 715,421 shares during the period. Victory Capital Management Inc. raised its position in Bank of New York Mellon by 1.5% during the 3rd quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock worth $373,505,000 after buying an additional 129,929 shares during the last quarter. LSV Asset Management lifted its stake in shares of Bank of New York Mellon by 1.0% in the 4th quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock worth $383,723,000 after acquiring an additional 72,880 shares during the period. Legal & General Group Plc lifted its stake in shares of Bank of New York Mellon by 0.9% in the 3rd quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock worth $281,912,000 after acquiring an additional 57,402 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Bank of New York Mellon by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock valued at $272,425,000 after purchasing an additional 226,834 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BK shares. Bank of America boosted their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. 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 report on Thursday, April 18th. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. UBS Group upped their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, Citigroup raised their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Trading Up 0.7 %

NYSE:BK traded up $0.40 on Friday, hitting $57.00. 2,214,001 shares of the stock were exchanged, compared to its average volume of 3,813,908. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The stock has a market cap of $42.91 billion, a PE ratio of 13.90, a PEG ratio of 1.23 and a beta of 1.11. The stock has a fifty day moving average of $56.16 and a 200-day moving average of $52.30.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the company posted $1.13 earnings per share. Bank of New York Mellon’s revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Bank of New York Mellon 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.