Millington Financial Advisors LLC Invests $2.50 Million in The Bank of New York Mellon Co. (NYSE:BK)

Millington Financial Advisors LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,143 shares of the bank’s stock, valued at approximately $2,497,000. Bank of New York Mellon makes up 1.5% of Millington Financial Advisors LLC’s holdings, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC increased its holdings in Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after buying an additional 3,732,862 shares in the last quarter. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $1,150,462,000. Ameriprise Financial Inc. increased its stake in Bank of New York Mellon by 0.3% in the 4th quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank’s stock valued at $908,281,000 after purchasing an additional 35,413 shares in the last quarter. Northern Trust Corp raised its holdings in Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock worth $732,468,000 after purchasing an additional 1,526,686 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Bank of New York Mellon by 17.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after purchasing an additional 1,125,493 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares of the company’s stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares of the company’s stock, valued at $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Price Performance

BK stock opened at $90.33 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $57.18 and a 12-month high of $91.23. The company has a market cap of $64.63 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The stock has a 50-day moving average price of $82.87 and a two-hundred day moving average price of $82.65.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. As a group, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.08%. Bank of New York Mellon’s dividend payout ratio is currently 30.62%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Evercore ISI raised their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research report on Tuesday, April 1st. Truist Financial downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their target price for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Wall Street Zen cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Citigroup increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. Finally, Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.85.

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.