Fortis Group Advisors LLC Has $739,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Fortis Group Advisors LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 100.0% in the fourth quarter, HoldingsChannel reports. The fund owned 14,200 shares of the bank’s stock after acquiring an additional 7,100 shares during the period. Fortis Group Advisors LLC’s holdings in Bank of New York Mellon were worth $739,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $28,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $32,000. Hartford Financial Management Inc. boosted its holdings in shares of Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after buying an additional 527 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BK traded down $0.48 during trading hours on Friday, reaching $58.02. The company’s stock had a trading volume of 2,329,752 shares, compared to its average volume of 2,887,953. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $60.87. The company’s 50-day moving average is $57.77 and its 200-day moving average is $55.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $43.39 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.20 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.13 EPS. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.90%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the stock in a transaction 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 transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the firm’s 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 owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock worth $6,475,216 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on BK. Evercore ISI increased their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Morgan Stanley increased their price objective on 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. Jefferies Financial Group increased their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Bank of America increased their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

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.