J. Safra Sarasin Holding AG Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

J. Safra Sarasin Holding AG increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 419.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,453 shares of the bank’s stock after purchasing an additional 234,538 shares during the period. J. Safra Sarasin Holding AG’s holdings in Bank of New York Mellon were worth $22,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $33,000. Graney & King LLC purchased 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 stake in Bank of New York Mellon during the fourth quarter worth about $39,000. TCTC Holdings LLC grew its holdings in Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after purchasing an additional 430 shares during the period. Finally, Modus Advisors LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $49,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BK. UBS Group boosted their price target on 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. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays increased their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley lowered their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.31.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $76.25 on Monday. The firm’s 50 day moving average price is $82.72 and its 200-day moving average price is $80.43. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $54.75 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a twelve month low of $56.08 and a twelve month high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its quarterly 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 business had revenue of $4.79 billion for 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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

Insider Transactions at Bank of New York Mellon

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

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.