Redhawk Wealth Advisors Inc. Purchases 5,103 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Redhawk Wealth Advisors Inc. increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 68.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,512 shares of the bank's stock after purchasing an additional 5,103 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in Bank of New York Mellon were worth $1,049,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BK. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $220,000. Apollon Wealth Management LLC raised its position in shares of Bank of New York Mellon by 16.2% in the fourth quarter. Apollon Wealth Management LLC now owns 21,927 shares of the bank's stock valued at $1,685,000 after purchasing an additional 3,059 shares during the period. Quotient Wealth Partners LLC raised its position in shares of Bank of New York Mellon by 6.0% in the fourth quarter. Quotient Wealth Partners LLC now owns 3,030 shares of the bank's stock valued at $233,000 after purchasing an additional 172 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Bank of New York Mellon by 437.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 42,234 shares of the bank's stock valued at $3,245,000 after purchasing an additional 34,371 shares during the period. Finally, Angeles Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $202,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 1.3%

NYSE:BK traded down $1.21 during trading hours on Friday, hitting $88.50. 3,527,284 shares of the company traded hands, compared to its average volume of 4,067,348. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63. The company has a market cap of $63.32 billion, a PE ratio of 15.23, a PEG ratio of 0.97 and a beta of 1.08. The firm's 50-day simple moving average is $84.13 and its 200-day simple moving average is $82.92. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

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

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.12%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the business's 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 completion of the sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79% decrease in their position. 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 quarter. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their target price for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Finally, 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 research note on Monday, March 17th. Seven equities 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, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $91.85.

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.