The Bank of New York Mellon Corporation $BK Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,013 shares of the bank’s stock after selling 213 shares during the period. 1858 Wealth Management LLC’s holdings in Bank of New York Mellon were worth $366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Canada Post Corp Registered Pension Plan acquired a new position in Bank of New York Mellon in the first quarter valued at approximately $1,035,000. TrueMark Investments LLC acquired a new position in Bank of New York Mellon in the first quarter valued at approximately $4,282,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Bank of New York Mellon by 29.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank’s stock valued at $18,740,000 after acquiring an additional 50,368 shares during the last quarter. Formidable Asset Management LLC acquired a new position in Bank of New York Mellon in the first quarter valued at approximately $247,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Bank of New York Mellon by 121.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank’s stock valued at $15,399,000 after acquiring an additional 100,810 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the sale, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 2.1%

Shares of NYSE BK opened at $104.63 on Friday. The firm has a market cap of $73.79 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.98 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $110.87. The business’s 50 day moving average is $105.10 and its two-hundred day moving average is $93.74.

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

Bank of New York Mellon Increases Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. TD Cowen assumed coverage on Bank of New York Mellon in a report on Thursday, September 25th. They issued a “buy” rating on the stock. Evercore ISI upped their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Morgan Stanley upped their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $106.77.

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.