Garland Capital Management Inc. Has $5 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Garland Capital Management Inc. decreased its position in The Bank of New York Mellon Co. (NYSE:BKFree Report) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,017 shares of the bank’s stock after selling 6,295 shares during the quarter. Bank of New York Mellon accounts for approximately 3.5% of Garland Capital Management Inc.’s holdings, making the stock its 14th largest holding. Garland Capital Management Inc.’s holdings in Bank of New York Mellon were worth $4,998,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in Bank of New York Mellon by 160.0% during the first quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock worth $263,000 after purchasing an additional 3,297 shares during the period. Prudential PLC bought a new position in Bank of New York Mellon during the first quarter worth about $1,096,000. Cetera Investment Advisers grew its holdings in Bank of New York Mellon by 3.3% during the first quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock worth $1,769,000 after purchasing an additional 1,154 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in Bank of New York Mellon by 54.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock worth $11,519,000 after purchasing an additional 81,728 shares during the period. Finally, Zions Bancorporation N.A. grew its holdings in Bank of New York Mellon by 165.3% during the first quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock worth $72,000 after purchasing an additional 909 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,425 shares of Bank of New York Mellon stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction of $850,843.00. Following the completion of the transaction, the vice president now directly owns 119,656 shares in the company, valued at $6,600,224.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 15,425 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total transaction of $850,843.00. Following the transaction, the vice president now owns 119,656 shares in the company, valued at $6,600,224.96. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Citigroup lifted their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. UBS Group lifted their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Hold” and an average target price of $57.25.

Check Out Our Latest Stock Analysis on Bank of New York Mellon

Bank of New York Mellon Trading Down 0.6 %

NYSE BK traded down $0.31 during mid-day trading on Friday, reaching $55.06. 4,933,865 shares of the stock were exchanged, compared to its average volume of 3,931,153. 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 has a 50 day simple moving average of $55.78 and a 200-day simple moving average of $50.70. The stock has a market cap of $41.45 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.20 and a beta of 1.12. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its earnings results on Friday, January 12th. The bank reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm earned $1.30 earnings per share. Bank of New York Mellon’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.31 EPS for the current year.

Bank of New York Mellon Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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