The Bank of New York Mellon Corporation $BK Shares Bought by Secured Retirement Advisors LLC

Secured Retirement Advisors LLC grew its stake in shares of The Bank of New York Mellon Corporation (NYSE:BKFree Report) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,987 shares of the bank’s stock after purchasing an additional 397 shares during the period. Secured Retirement Advisors LLC’s holdings in Bank of New York Mellon were worth $1,548,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Abel Hall LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter valued at $206,000. REAP Financial Group LLC lifted its stake in Bank of New York Mellon by 57.0% during the second quarter. REAP Financial Group LLC now owns 931 shares of the bank’s stock valued at $85,000 after buying an additional 338 shares in the last quarter. Sax Wealth Advisors LLC lifted its stake in Bank of New York Mellon by 3.8% during the second quarter. Sax Wealth Advisors LLC now owns 5,480 shares of the bank’s stock valued at $499,000 after buying an additional 202 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $192,000. Finally, Shell Asset Management Co. lifted its position in shares of Bank of New York Mellon by 23.2% in the 2nd quarter. Shell Asset Management Co. now owns 61,354 shares of the bank’s stock valued at $5,590,000 after acquiring an additional 11,571 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 0.4%

BK opened at $106.89 on Wednesday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87. The business has a 50-day moving average of $104.82 and a 200-day moving average of $93.31. 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 company has a market capitalization of $75.38 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13.

Bank of New York Mellon (NYSE:BKGet Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $1.51 EPS. Equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BK shares. TD Cowen assumed coverage on shares of Bank of New York Mellon in a research report on Thursday, September 25th. They issued a “buy” rating for the company. Citigroup increased their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. BMO Capital Markets assumed coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Evercore ISI increased their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.77.

View Our Latest Research Report on BK

About Bank of New York Mellon

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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