The Bank of New York Mellon Corporation $BK Shares Acquired by Crux Wealth Advisors

Key Points

• Crux Wealth Advisors increased its stake in The Bank of New York Mellon by 46.2% during the second quarter, now holding 11,460 shares valued at approximately $1,044,000.
• Several hedge funds have either added or reduced their positions in Bank of New York Mellon, resulting in institutional investors owning 85.31% of the company's stock.
• Wall Street analysts have raised their target prices for Bank of New York Mellon, with a consensus target now at $109.62 and ten analysts rating the stock as a "Buy."

Crux Wealth Advisors increased its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 46.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,460 shares of the bank's stock after buying an additional 3,622 shares during the quarter. Crux Wealth Advisors' holdings in Bank of New York Mellon were worth $1,044,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BK. Alpine Bank Wealth Management bought a new stake in shares of Bank of New York Mellon during the first quarter valued at about $25,000. Hoey Investments Inc. bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $32,000. Orion Capital Management LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $32,000. Cornerstone Planning Group LLC lifted its stake in shares of Bank of New York Mellon by 100.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank's stock worth $30,000 after acquiring an additional 196 shares during the period. Finally, GFG Capital LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $36,000. Institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BK shares. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday. Citigroup boosted their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, October 6th. Finally, Evercore ISI increased their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold 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 $109.62.

Bank of New York Mellon Price Performance

BK stock opened at $105.77 on Friday. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $110.87. The firm has a 50-day moving average of $105.59 and a two-hundred day moving average of $94.54. The firm has a market capitalization of $74.59 billion, a PE ratio of 15.26, a P/E/G ratio of 0.99 and a beta of 1.13. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. On average, analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a $0.53 dividend. The ex-dividend date is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon's dividend payout ratio is presently 30.59%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares of the company's stock, valued at $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is owned by insiders.

About Bank of New York Mellon

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.

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