Beacon Pointe Advisors LLC Raises Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Beacon Pointe Advisors LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,576 shares of the bank's stock after acquiring an additional 4,528 shares during the period. Beacon Pointe Advisors LLC's holdings in Bank of New York Mellon were worth $1,043,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BK. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Bank of New York Mellon in the fourth quarter worth $200,000. Prosperity Consulting Group LLC raised its holdings in shares of Bank of New York Mellon by 1.8% during the 4th quarter. Prosperity Consulting Group LLC now owns 39,907 shares of the bank's stock valued at $3,066,000 after buying an additional 693 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Bank of New York Mellon in the 4th quarter worth approximately $41,014,000. Virtus ETF Advisers LLC purchased a new stake in Bank of New York Mellon in the fourth quarter worth approximately $1,155,000. Finally, Capital Analysts LLC grew its position in Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock valued at $255,000 after acquiring an additional 119 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on BK shares. Truist Financial decreased their price objective on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Monday, April 14th. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus price target of $91.31.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 over the last ninety days. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Up 0.0 %

Shares of NYSE BK traded up $0.04 during trading on Monday, reaching $82.18. The company had a trading volume of 2,710,504 shares, compared to its average volume of 3,979,571. The business's 50-day moving average is $80.90 and its 200 day moving average is $80.74. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock has a market cap of $59.00 billion, a PE ratio of 14.14, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 12-month low of $56.98 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 earnings per share. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is currently 30.62%.

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.