Annis Gardner Whiting Capital Advisors LLC Acquires 1,679 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Annis Gardner Whiting Capital Advisors LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 593.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,962 shares of the bank’s stock after buying an additional 1,679 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BK. Atlantic Edge Private Wealth Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $28,000. Hartford Financial Management Inc. increased its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after purchasing an additional 754 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Bank of New York Mellon in the third quarter valued at $38,000. Finally, Blue Trust Inc. increased its holdings in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after purchasing an additional 527 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on BK. Jefferies Financial Group upped their price objective 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, April 18th. Bank of America upped their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Citigroup upped their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Price Performance

Shares of BK stock traded down $0.17 on Thursday, reaching $58.80. The company had a trading volume of 641,433 shares, compared to its average volume of 3,726,302. The stock has a market capitalization of $43.97 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.11. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $59.70. The business’s 50-day moving average is $56.90 and its 200 day moving average is $53.80.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Insider Activity

In other news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock valued at $6,475,216 over the last quarter. 0.14% of the stock is owned by company 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.