1858 Wealth Management LLC Cuts Stock Holdings in The Bank of New York Mellon Corporation $BK

1858 Wealth Management LLC lowered its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,013 shares of the bank’s stock after selling 213 shares during the quarter. 1858 Wealth Management LLC’s holdings in Bank of New York Mellon were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Apollon Wealth Management LLC increased its position in shares of Bank of New York Mellon by 4.8% during the second quarter. Apollon Wealth Management LLC now owns 27,858 shares of the bank’s stock worth $2,538,000 after acquiring an additional 1,288 shares during the period. Hemington Wealth Management increased its holdings in Bank of New York Mellon by 6.3% in the second quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock valued at $157,000 after buying an additional 102 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Bank of New York Mellon by 43.5% in the second quarter. Fifth Third Wealth Advisors LLC now owns 20,895 shares of the bank’s stock valued at $1,904,000 after buying an additional 6,333 shares during the last quarter. Aberdeen Group plc increased its holdings in Bank of New York Mellon by 10.5% in the second quarter. Aberdeen Group plc now owns 676,637 shares of the bank’s stock valued at $61,608,000 after buying an additional 64,157 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in Bank of New York Mellon by 12.5% in the second quarter. JFS Wealth Advisors LLC now owns 4,738 shares of the bank’s stock valued at $432,000 after buying an additional 527 shares during the last quarter. 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 other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of several recent analyst reports. TD Cowen initiated coverage on Bank of New York Mellon in a report on Thursday, September 25th. They issued a “buy” rating on the stock. The Goldman Sachs Group increased their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Weiss Ratings reissued a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday. BMO Capital Markets initiated coverage on Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.77.

Bank of New York Mellon Stock Performance

NYSE BK opened at $104.63 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The company has a market capitalization of $73.79 billion, a PE ratio of 15.97, a P/E/G ratio of 0.98 and a beta of 1.13. The company has a fifty day moving average of $105.10 and a two-hundred day moving average of $93.74.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The company had revenue of $4.38 billion during the quarter. As a group, analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. Bank of New York Mellon’s payout ratio is currently 32.37%.

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.