Guardian Investment Management Purchases Shares of 5,650 The Bank of New York Mellon Co. (NYSE:BK)

Guardian Investment Management purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,650 shares of the bank’s stock, valued at approximately $294,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. HF Advisory Group LLC grew its position in Bank of New York Mellon by 33.0% during the fourth quarter. HF Advisory Group LLC now owns 6,663 shares of the bank’s stock valued at $347,000 after acquiring an additional 1,655 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Bank of New York Mellon by 95.1% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,539 shares of the bank’s stock valued at $80,000 after acquiring an additional 750 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Bank of New York Mellon by 10.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 75,900 shares of the bank’s stock valued at $3,950,000 after acquiring an additional 6,960 shares during the last quarter. Scissortail Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $560,000. Finally, Tyche Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $428,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 1.2 %

Bank of New York Mellon stock traded up $0.67 on Thursday, hitting $55.13. 1,944,348 shares of the stock traded hands, compared to its average volume of 3,998,468. 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 firm has a market cap of $41.51 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. The business’s fifty day simple moving average is $55.73 and its 200 day simple moving average is $51.10. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.35 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Bank of America raised their target price 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. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Jefferies Financial Group lifted their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.15.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently 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.