Quotient Wealth Partners LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Quotient Wealth Partners LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,858 shares of the bank’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth about $30,000. Able Wealth Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $32,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. Finally, Family Firm Inc. purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $40,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $74.15 on Friday. The firm has a market cap of $54.72 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $76.15. The firm’s fifty day moving average price is $68.15 and its 200 day moving average price is $62.26.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the company earned $1.38 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.66 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.54%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore ISI raised their price target on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Barclays raised their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. The Goldman Sachs Group raised their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Citigroup upped their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.92.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.