Avidian Wealth Solutions LLC Takes $205,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Avidian Wealth Solutions LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,946 shares of the bank’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in shares of Bank of New York Mellon by 1.0% in the third quarter. Commonwealth Equity Services LLC now owns 190,074 shares of the bank’s stock valued at $8,107,000 after purchasing an additional 1,905 shares during the last quarter. Raymond James & Associates increased its stake in shares of Bank of New York Mellon by 5.9% in the 3rd quarter. Raymond James & Associates now owns 470,999 shares of the bank’s stock worth $20,088,000 after acquiring an additional 26,219 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Bank of New York Mellon by 1.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 22,285 shares of the bank’s stock worth $950,000 after acquiring an additional 301 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Bank of New York Mellon by 5.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 175,287 shares of the bank’s stock worth $7,476,000 after acquiring an additional 9,436 shares during the period. Finally, Advisor Partners II LLC boosted its position in shares of Bank of New York Mellon by 5.0% during the 3rd quarter. Advisor Partners II LLC now owns 29,559 shares of the bank’s stock valued at $1,261,000 after acquiring an additional 1,412 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity

In other Bank of New York Mellon 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 owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were 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 owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,568 shares of company stock worth $5,459,897. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup lifted their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Jefferies Financial Group lifted their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. UBS Group raised their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley upped their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reissued 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $57.48 on Tuesday. The company has a market cap of $43.27 billion, a P/E ratio of 14.02, a PEG ratio of 1.23 and a beta of 1.11. The firm has a fifty day moving average price of $56.21 and a 200 day moving average price of $52.53. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business 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 business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 EPS. Sell-side analysts predict that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

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.