Hexagon Capital Partners LLC Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Hexagon Capital Partners LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 29.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,718 shares of the bank’s stock after acquiring an additional 393 shares during the period. Hexagon Capital Partners LLC’s holdings in Bank of New York Mellon were worth $89,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in Bank of New York Mellon by 142.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after purchasing an additional 951,730 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bank of New York Mellon by 153.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after purchasing an additional 941,193 shares during the last quarter. Barclays PLC boosted its position in Bank of New York Mellon by 30.0% in the 3rd quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock valued at $160,020,000 after buying an additional 866,548 shares during the last quarter. Northern Trust Corp raised its position in shares of Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after acquiring an additional 715,421 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Bank of New York Mellon by 1,191.2% during the third quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock valued at $31,953,000 after acquiring an additional 691,172 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction dated 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 directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,568 shares of company stock valued at $5,459,897. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group boosted their price objective on 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. Evercore ISI increased 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 lifted their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Morgan Stanley increased their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Price Performance

BK opened at $56.46 on Thursday. The stock has a market cap of $42.51 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.21 and a beta of 1.11. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $56.11 and a 200 day simple moving average of $52.16.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the prior year, the business earned $1.13 EPS. Bank of New York Mellon’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.98%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

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.