Kovitz Investment Group Partners LLC Increases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Kovitz Investment Group Partners LLC boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 106.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 380,084 shares of the bank’s stock after buying an additional 196,090 shares during the period. Kovitz Investment Group Partners LLC owned 0.05% of Bank of New York Mellon worth $29,202,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Cape Investment Advisory Inc. boosted its stake in Bank of New York Mellon by 12.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock worth $90,000 after acquiring an additional 131 shares in the last quarter. Syon Capital LLC grew its stake in shares of Bank of New York Mellon by 2.5% in the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank’s stock worth $417,000 after buying an additional 132 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after buying an additional 133 shares in the last quarter. Grove Bank & Trust raised its stake in Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after buying an additional 135 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after acquiring an additional 139 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. The trade was a 42.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares of the company’s stock, valued at approximately $1,680,122.50. This represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BK shares. UBS Group upped their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company increased their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays increased their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup upped their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.31.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $78.67 on Friday. The stock’s fifty day moving average is $81.68 and its 200 day moving average is $80.47. The Bank of New York Mellon Co. has a one year low of $56.08 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market cap of $56.48 billion, a P/E ratio of 13.54, a P/E/G ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the company posted $1.29 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Bank of New York Mellon Profile

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.