CreativeOne Wealth LLC Raises Stake in The Bank of New York Mellon Co. (NYSE:BK)

CreativeOne Wealth LLC boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 46.9% in the first quarter, HoldingsChannel reports. The fund owned 7,254 shares of the bank’s stock after acquiring an additional 2,315 shares during the period. CreativeOne Wealth LLC’s holdings in Bank of New York Mellon were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. Wetzel Investment Advisors Inc. grew its stake in shares of Bank of New York Mellon by 82.1% in the first quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after acquiring an additional 230 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $28,000. Able Wealth Management LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Bank of New York Mellon in the first quarter worth approximately $32,000. Finally, Hartford Financial Management Inc. boosted its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after buying an additional 183 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.54 during mid-day trading on Friday, hitting $65.35. The company had a trading volume of 3,898,661 shares, compared to its average volume of 4,424,193. The stock’s 50 day moving average price is $60.39 and its 200-day moving average price is $57.49. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $65.90. The company has a market capitalization of $48.87 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. Bank of New York Mellon’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.58 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 22nd will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a report on Monday, July 15th. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a report on Monday, July 15th. Barclays lifted their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $65.23.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the transaction, the insider now owns 24,346 shares in the company, valued at approximately $1,410,363.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,858 shares of company stock worth $2,223,504. Insiders own 0.14% of the company’s stock.

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.