Sei Investments Co. increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 6.6% in the first quarter, Holdings Channel.com reports. The firm owned 1,175,181 shares of the bank’s stock after purchasing an additional 72,937 shares during the quarter. Sei Investments Co.’s holdings in The Bank of New York Mellon were worth $53,890,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Victory Capital Management Inc. boosted its stake in The Bank of New York Mellon by 6.9% in the 4th quarter. Victory Capital Management Inc. now owns 560,233 shares of the bank’s stock worth $23,776,000 after purchasing an additional 36,392 shares during the period. Wade G W & Inc. acquired a new position in The Bank of New York Mellon in the 4th quarter worth $280,000. Almanack Investment Partners LLC. acquired a new position in The Bank of New York Mellon in the 4th quarter worth $491,000. Ellsworth Advisors LLC acquired a new position in shares of The Bank of New York Mellon during the 4th quarter worth about $213,000. Finally, Camden Capital LLC boosted its stake in shares of The Bank of New York Mellon by 4.8% during the 4th quarter. Camden Capital LLC now owns 8,420 shares of the bank’s stock worth $357,000 after buying an additional 385 shares during the last quarter. 82.08% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP J Kevin Mccarthy sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $51.65, for a total transaction of $645,625.00. Following the transaction, the executive vice president now directly owns 102,214 shares of the company’s stock, valued at $5,279,353.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurtis R. Kurimsky sold 10,878 shares of the firm’s stock in a transaction that occurred on Monday, April 19th. The stock was sold at an average price of $46.89, for a total transaction of $510,069.42. Following the transaction, the insider now directly owns 25,034 shares in the company, valued at $1,173,844.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,378 shares of company stock worth $2,793,344. Insiders own 0.12% of the company’s stock.
The Bank of New York Mellon stock opened at $49.87 on Friday. The company has a market cap of $43.66 billion, a PE ratio of 13.30, a P/E/G ratio of 1.60 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.68 and a current ratio of 0.68. The Bank of New York Mellon Co. has a twelve month low of $32.65 and a twelve month high of $52.90. The firm has a 50-day moving average of $50.03.
The Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Thursday, April 15th. The bank reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.10. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.83 billion. The Bank of New York Mellon had a net margin of 22.24% and a return on equity of 9.19%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 4.06 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 11th. Shareholders of record on Wednesday, April 28th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, April 27th. This represents a $1.24 annualized dividend and a yield of 2.49%. The Bank of New York Mellon’s dividend payout ratio is currently 30.92%.
About The 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 three segments: Investment Services, Investment and Wealth Management, and Other. The Investment Service segment offers custody, trust and depositary, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, investment, wealth and retirement solutions, technology and enterprise data management, trading, corporate trust, depositary receipts, payments, foreign exchange, liquidity management, receivables processing and payables management, trade finance and processing, collateral management, and tri-party services.
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