Quantessence Capital LLC Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Quantessence Capital LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,452 shares of the bank’s stock, valued at approximately $496,000.

Other hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC raised its stake in shares of Bank of New York Mellon by 3.8% in the third quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank’s stock worth $493,000 after purchasing an additional 254 shares during the last quarter. SkyView Investment Advisors LLC raised its position in Bank of New York Mellon by 3.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank’s stock worth $705,000 after buying an additional 345 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $2,617,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Bank of New York Mellon by 340.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank’s stock valued at $2,011,000 after acquiring an additional 21,641 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Bank of New York Mellon by 7.1% in the third quarter. Tidal Investments LLC now owns 33,764 shares of the bank’s stock worth $2,426,000 after acquiring an additional 2,240 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In other news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon 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. The trade was a 42.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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 $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BK. Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Barclays lifted their price target on 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. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.31.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $76.25 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business has a 50 day simple moving average of $82.28 and a two-hundred day simple moving average of $80.41. The stock has a market capitalization of $54.75 billion, a P/E ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 12 month low of $56.08 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 EPS. As a group, analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

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.