Paloma Partners Management Co Makes New $1.37 Million Investment in The Bank of New York Mellon Co. (NYSE:BK)

Paloma Partners Management Co acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 23,851 shares of the bank’s stock, valued at approximately $1,374,000.

A number of other large investors have also made changes to their positions in BK. Wetzel Investment Advisors Inc. raised its position in Bank of New York Mellon by 82.1% in the first quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after purchasing an additional 230 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in Bank of New York Mellon in the fourth quarter worth about $28,000. Able Wealth Management LLC acquired a new position in Bank of New York Mellon in the fourth quarter worth about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon in the first quarter worth about $32,000. Finally, Hartford Financial Management Inc. raised its position in 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 worth $33,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the transaction, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now owns 144,721 shares in the company, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold a total of 36,858 shares of company stock worth $2,223,504 over the last 90 days. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK traded down $0.75 during mid-day trading on Monday, reaching $64.60. 3,089,674 shares of the company’s stock were exchanged, compared to its average volume of 3,830,226. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $65.90. The firm has a market capitalization of $48.31 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The business’s fifty day simple moving average is $60.50 and its two-hundred day simple moving average is $57.64. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. Bank of New York Mellon’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Analysts anticipate that The Bank of New York Mellon Co. will post 5.58 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is currently 43.52%.

Analysts Set New Price Targets

Several analysts have weighed in on BK shares. Jefferies Financial Group upped their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $63.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Finally, Bank of America raised their price objective 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, April 17th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $65.23.

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.