The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 171.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,404 shares of the bank’s stock after buying an additional 8,459 shares during the period. RWA Wealth Partners LLC’s holdings in Bank of New York Mellon were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BK. Hartford Financial Management Inc. increased its position in shares of Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares during the last quarter. Addison Advisors LLC increased its position in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after acquiring an additional 754 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Bank of New York Mellon during the third quarter valued at about $38,000. Blue Trust Inc. increased its position in shares of Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after acquiring an additional 527 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Bank of New York Mellon in the third quarter valued at approximately $49,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock worth $5,459,897 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research reports. UBS Group lifted their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Bank of America boosted their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Trading Up 0.9 %

Shares of BK stock opened at $57.94 on Thursday. The firm has a market cap of $43.62 billion, a P/E ratio of 14.13, a PEG ratio of 1.24 and a beta of 1.12. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The firm’s 50-day simple moving average is $55.93 and its 200-day simple moving average is $51.63.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion for 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%. Bank of New York Mellon’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 earnings per share. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.90%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

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.