Simplicity Solutions LLC Purchases 751 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Simplicity Solutions LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,850 shares of the bank’s stock after buying an additional 751 shares during the quarter. Simplicity Solutions LLC’s holdings in Bank of New York Mellon were worth $721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Quilter Plc bought a new position in Bank of New York Mellon in the 1st quarter worth $446,850,000. Brown Brothers Harriman & Co. raised its holdings in Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after purchasing an additional 300 shares during the period. Hartford Financial Management Inc. increased its stake in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after buying an additional 183 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Bank of New York Mellon in the 1st quarter worth $36,000. Finally, Blue Trust Inc. increased its stake in Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after buying an additional 527 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 0.9 %

Shares of NYSE:BK opened at $54.47 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. 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 50-day moving average price of $55.73 and a 200 day moving average price of $51.10. The company has a market cap of $41.01 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the firm earned $1.13 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 5.33 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 42.32%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Bank of America increased their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $52.00 to $62.00 in a research note on Tuesday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, Citigroup raised their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.17.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, 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 sale, the vice president now owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Bank of New York Mellon 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.