Donald L. Hagan LLC Acquires 322 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Donald L. Hagan LLC lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,860 shares of the bank’s stock after purchasing an additional 322 shares during the period. Donald L. Hagan LLC’s holdings in Bank of New York Mellon were worth $930,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC raised its stake in Bank of New York Mellon by 10.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 10,551 shares of the bank’s stock worth $549,000 after acquiring an additional 971 shares during the period. Van Strum & Towne Inc. raised its stake in Bank of New York Mellon by 7.5% during the 4th quarter. Van Strum & Towne Inc. now owns 5,377 shares of the bank’s stock worth $280,000 after acquiring an additional 377 shares during the period. Global Retirement Partners LLC raised its stake in Bank of New York Mellon by 51.5% during the 4th quarter. Global Retirement Partners LLC now owns 4,024 shares of the bank’s stock worth $223,000 after acquiring an additional 1,368 shares during the period. Blue Trust Inc. grew its holdings in Bank of New York Mellon by 159.2% during 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 in the last quarter. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $255,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.2 %

BK traded up $0.69 during trading on Friday, reaching $57.62. The company had a trading volume of 3,116,295 shares, compared to its average volume of 3,853,885. The stock has a market cap of $43.38 billion, a P/E ratio of 14.51, a PEG ratio of 1.21 and a beta of 1.11. The business has a 50 day simple moving average of $55.48 and a 200-day simple moving average of $49.85. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $57.88. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, January 12th. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.26 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Monday, January 22nd were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 19th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.92%. Bank of New York Mellon’s payout ratio is 42.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group increased their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price for the company in a report on Monday, December 18th. Finally, Citigroup raised their target price on shares of 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Hold” and a consensus target price of $55.65.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bank of New York Mellon news, VP Hanneke Smits sold 15,425 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total transaction of $850,843.00. Following the completion of the sale, the vice president now owns 119,656 shares in the company, valued at $6,600,224.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. 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.