Transform Wealth LLC Has $11 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Transform Wealth LLC lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,101 shares of the bank's stock after purchasing an additional 5,072 shares during the quarter. Transform Wealth LLC's holdings in Bank of New York Mellon were worth $10,995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BK. Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in Bank of New York Mellon by 4.6% in the first quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 4,982 shares of the bank's stock valued at $386,000 after buying an additional 217 shares in the last quarter. My Legacy Advisors LLC raised its holdings in shares of Bank of New York Mellon by 6.9% during the first quarter. My Legacy Advisors LLC now owns 4,366 shares of the bank's stock worth $366,000 after acquiring an additional 283 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in Bank of New York Mellon by 68.9% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 12,512 shares of the bank's stock valued at $1,049,000 after acquiring an additional 5,103 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in Bank of New York Mellon by 806.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 553 shares of the bank's stock worth $46,000 after purchasing an additional 492 shares during the period. Finally, Accurate Wealth Management LLC increased its holdings in Bank of New York Mellon by 16.2% during the 1st quarter. Accurate Wealth Management LLC now owns 6,382 shares of the bank's stock worth $496,000 after purchasing an additional 891 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BK shares. Wall Street Zen cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Evercore ISI upped their price target on 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. Morgan Stanley lifted their price objective 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. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

Insider Activity at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the firm'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 transaction of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,114 shares of company stock worth $7,869,795. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of BK traded down $0.25 during midday trading on Thursday, reaching $89.31. The stock had a trading volume of 1,221,066 shares, compared to its average volume of 4,053,137. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a 50 day simple moving average of $83.52 and a 200-day simple moving average of $82.81. The firm has a market cap of $63.90 billion, a PE ratio of 15.37, a P/E/G ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion for 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 business's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's payout ratio is presently 30.62%.

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.