Tolleson Wealth Management Inc. Invests $253,000 in The Bank of New York Mellon Co. (NYSE:BK)

Tolleson Wealth Management Inc. purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,289 shares of the bank's stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $25,000. Bellwether Advisors LLC bought a new stake in Bank of New York Mellon during the fourth quarter valued at $28,000. Transce3nd LLC bought a new stake in Bank of New York Mellon during the fourth quarter valued at $33,000. South Plains Financial Inc. acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $34,000. Finally, Graney & King LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter worth about $35,000. Institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BK. Wall Street Zen cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Truist Financial reduced their price objective on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Morgan Stanley dropped their target price on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Evercore ISI upped their price target 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. Finally, Wells Fargo & Company increased their price objective 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.31.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction, the executive vice president now directly owns 55,115 shares in the company, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,114 shares of company stock valued at $7,869,795. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded up $0.06 during trading hours on Friday, hitting $89.24. 1,313,888 shares of the company traded hands, compared to its average volume of 4,044,689. The firm's 50-day simple moving average is $81.74 and its two-hundred day simple moving average is $81.73. 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 firm has a market cap of $63.84 billion, a P/E ratio of 15.35, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.63.

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 (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the business posted $1.29 earnings per share. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. As a group, 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 Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

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.