Avidian Wealth Solutions LLC Invests $205,000 in The Bank of New York Mellon Co. (NYSE:BK)

Avidian Wealth Solutions LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,946 shares of the bank’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently modified their holdings of BK. Hartford Financial Management Inc. boosted its position 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 valued at $33,000 after buying an additional 183 shares during the last quarter. Addison Advisors LLC boosted its holdings in Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after purchasing an additional 754 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $38,000. Blue Trust Inc. raised its position in shares of Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after purchasing an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Bank of New York Mellon during the 3rd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock valued at $5,459,897 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

BK has been the topic of several recent analyst reports. Citigroup upped their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Evercore ISI upped their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Morgan Stanley lifted their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, UBS Group lifted their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Stock Up 0.8 %

NYSE:BK opened at $57.48 on Tuesday. The firm has a market capitalization of $43.27 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The stock has a 50 day moving average of $56.21 and a 200-day moving average of $52.53.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the business earned $1.13 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts predict that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.92%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

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.