Charles Schwab Investment Management Inc. Acquires 70,146 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Charles Schwab Investment Management Inc. boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,802,627 shares of the bank’s stock after buying an additional 70,146 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bank of New York Mellon were worth $249,977,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BK. Hartford Financial Management Inc. boosted its position in Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares in the last quarter. Blue Trust Inc. raised its stake in Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after buying an additional 527 shares during the last quarter. Addison Advisors LLC raised its stake in Bank of New York Mellon by 603.2% during the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after buying an additional 754 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter worth $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter worth $49,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.2 %

Shares of Bank of New York Mellon stock opened at $57.51 on Thursday. The company has a market capitalization of $43.30 billion, a P/E ratio of 14.03, a PEG ratio of 1.23 and a beta of 1.11. The company’s fifty day moving average is $56.25 and its two-hundred day moving average is $52.64. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28.

Bank of New York Mellon (NYSE:BK) last announced 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. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 earnings per share. Analysts forecast that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.92%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were 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 directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction dated 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 owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the 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 directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BK. Bank of America raised their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Citigroup boosted their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, Jefferies Financial Group boosted 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.17.

About Bank of New York Mellon

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.