Mariner LLC Has $14.87 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Mariner LLC lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 193,593 shares of the bank’s stock after purchasing an additional 25,922 shares during the period. Mariner LLC’s holdings in Bank of New York Mellon were worth $14,874,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BK. Graney & King LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at about $35,000. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $39,000. TCTC Holdings LLC boosted its position in shares of Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after buying an additional 430 shares during the last quarter. Modus Advisors LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth $49,000. Finally, Friedenthal Financial purchased a new stake in Bank of New York Mellon in the 4th quarter valued at $56,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. UBS Group upped their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.64.

Insider Activity

In related news, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This represents a 42.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Up 0.7 %

Shares of BK opened at $76.25 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $54.76 and a fifty-two week high of $90.34. The business has a 50-day moving average of $82.91 and a 200 day moving average of $80.26. The firm has a market cap of $54.75 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $1.29 earnings per share. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon’s payout ratio is currently 30.62%.

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.