Kingsman Wealth Management Inc. Purchases New Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Kingsman Wealth Management Inc. acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 7,200 shares of the bank's stock, valued at approximately $604,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BK. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $220,000. HUB Investment Partners LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $238,000. Lee Danner & Bass Inc. bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $90,000. Millstone Evans Group LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at $65,000. Finally, Mizuho Securities USA LLC increased its stake in shares of Bank of New York Mellon by 44.0% in the 4th quarter. Mizuho Securities USA LLC now owns 68,911 shares of the bank's stock valued at $5,294,000 after purchasing an additional 21,058 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Trading Up 1.2%

Shares of Bank of New York Mellon stock traded up $1.15 on Thursday, hitting $100.78. 1,329,632 shares of the company's stock traded hands, compared to its average volume of 4,313,230. The Bank of New York Mellon Corporation has a one year low of $60.93 and a one year high of $101.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.69. The company has a fifty day moving average of $91.53 and a two-hundred day moving average of $85.68. The company has a market capitalization of $72.10 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.97 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, July 25th. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a dividend yield of 2.10%. Bank of New York Mellon's dividend payout ratio is 28.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BK. Morgan Stanley lifted their price target on Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Evercore ISI boosted their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial boosted their price objective on Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $94.38.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 directly owned 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

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.