IFG Advisory LLC Buys 35,582 Shares of The Bank of New York Mellon Co. (NYSE:BK)

IFG Advisory LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 62.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,355 shares of the bank’s stock after acquiring an additional 35,582 shares during the quarter. IFG Advisory LLC’s holdings in Bank of New York Mellon were worth $4,807,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. WCG Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon in the third quarter valued at $1,552,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Bank of New York Mellon by 22.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after buying an additional 465,229 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Bank of New York Mellon by 4.1% during the third quarter. Brandes Investment Partners LP now owns 1,555,184 shares of the bank’s stock valued at $66,329,000 after purchasing an additional 61,501 shares in the last quarter. Czech National Bank lifted its position in shares of Bank of New York Mellon by 60.1% during the third quarter. Czech National Bank now owns 136,115 shares of the bank’s stock valued at $5,805,000 after purchasing an additional 51,104 shares in the last quarter. Finally, MML Investors Services LLC bought a new position in shares of Bank of New York Mellon during the second quarter valued at about $6,681,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,425 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction of $850,843.00. Following the transaction, the vice president now owns 119,656 shares in the company, valued at approximately $6,600,224.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Hanneke Smits sold 15,425 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total value of $850,843.00. Following the transaction, the vice president now owns 119,656 shares in the company, valued at approximately $6,600,224.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 4,498 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock opened at $56.93 on Thursday. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $57.45. The firm has a market capitalization of $42.86 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average of $55.38 and a 200-day moving average of $49.75.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, January 12th. The bank reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.26 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Monday, January 22nd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, January 19th. Bank of New York Mellon’s dividend payout ratio is currently 42.32%.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price target on the stock in a research report on Monday, December 18th. Citigroup raised their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. Finally, UBS Group raised their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Hold” and an average price target of $55.65.

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.