Barnes Dennig Private Wealth Management LLC Takes $5.12 Million Position in The Bank of New York Mellon Corporation (NYSE:BK)

Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 61,022 shares of the bank's stock, valued at approximately $5,118,000. Bank of New York Mellon accounts for 7.7% of Barnes Dennig Private Wealth Management LLC's portfolio, making the stock its biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Bank of New York Mellon during the first quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in Bank of New York Mellon during the first quarter worth approximately $25,000. Bellwether Advisors LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth approximately $28,000. Finally, REAP Financial Group LLC grew its position in Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after buying an additional 218 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Analysts Set New Price Targets

BK has been the subject of a number of recent research reports. Evercore ISI increased their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Wells Fargo & Company upped their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Citigroup lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Finally, Morgan Stanley boosted their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $91.85.

Insider Activity

In related news, VP Catherine Keating sold 65,473 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president owned 87,542 shares in the company, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president owned 55,115 shares of the company's stock, valued at $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock worth $7,869,795 in the last three months. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Stock Down 0.6%

BK traded down $0.52 on Tuesday, reaching $90.59. 4,343,065 shares of the company traded hands, compared to its average volume of 4,107,595. The company has a market cap of $64.81 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The stock's 50 day moving average price is $87.22 and its 200-day moving average price is $83.73. The Bank of New York Mellon Corporation has a 52-week low of $59.19 and a 52-week high of $92.64.

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, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the business posted $1.29 EPS. The company's revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

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.