RWA Wealth Partners LLC Buys 8,459 Shares of The Bank of New York Mellon Co. (NYSE:BK)

RWA Wealth Partners LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 171.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,404 shares of the bank’s stock after acquiring an additional 8,459 shares during the period. RWA Wealth Partners LLC’s holdings in Bank of New York Mellon were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northern Trust Corp grew its stake in Bank of New York Mellon by 8.2% in the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after acquiring an additional 715,421 shares during the period. Victory Capital Management Inc. grew its stake in Bank of New York Mellon by 1.5% in the third quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock valued at $373,505,000 after acquiring an additional 129,929 shares during the period. Legal & General Group Plc grew its stake in Bank of New York Mellon by 0.9% in the third quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock valued at $281,912,000 after acquiring an additional 57,402 shares during the period. Bank of New York Mellon Corp grew its stake in Bank of New York Mellon by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock valued at $272,425,000 after acquiring an additional 226,834 shares during the period. Finally, Invesco Ltd. grew its stake in Bank of New York Mellon by 10.0% in the third quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock valued at $246,182,000 after acquiring an additional 524,912 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,568 shares of company stock worth $5,459,897. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Citigroup upped their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. UBS Group upped their price objective 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. Finally, Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Price Performance

BK stock opened at $57.94 on Thursday. The company has a market capitalization of $43.62 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 1.24 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The business has a 50-day simple moving average of $55.93 and a two-hundred day simple moving average of $51.63.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.13 EPS. Research analysts expect that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 2.90%. Bank of New York Mellon’s dividend payout ratio (DPR) 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.