Nissay Asset Management Corp Japan ADV Buys 1,036 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Nissay Asset Management Corp Japan ADV raised its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,761 shares of the bank’s stock after purchasing an additional 1,036 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Bank of New York Mellon were worth $7,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Parvin Asset Management LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at approximately $25,000. Bellwether Advisors LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth $28,000. Transce3nd LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at $33,000. South Plains Financial Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $34,000. Finally, Graney & King LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Bank of America lifted their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup increased 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. UBS Group lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.31.

Bank of New York Mellon Stock Up 1.5%

Shares of Bank of New York Mellon stock opened at $89.30 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a market cap of $63.89 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.97 and a beta of 1.05. The firm’s 50-day moving average is $80.89 and its two-hundred day moving average is $81.24. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.34.

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

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.62%.

Insider Activity at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the business’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 directly owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction dated 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 directly owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock valued at $7,869,795 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Company 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.