Wealth Enhancement Advisory Services LLC Purchases 83,649 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Wealth Enhancement Advisory Services LLC increased its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 93.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,070 shares of the bank's stock after purchasing an additional 83,649 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Bank of New York Mellon were worth $13,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BK. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at about $28,000. REAP Financial Group LLC grew its holdings in Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after acquiring an additional 218 shares during the period. Transce3nd LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth about $33,000. Finally, South Plains Financial Inc. acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $34,000. Institutional investors own 85.31% of the company's stock.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were 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 of the company's stock, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated 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 transaction, the vice president now owns 87,542 shares in the company, valued at approximately $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. Insiders sold 101,114 shares of company stock valued at $7,869,795 in the last three months. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Up 0.4%

Shares of NYSE BK traded up $0.32 during mid-day trading on Monday, reaching $88.93. The company had a trading volume of 2,449,413 shares, compared to its average volume of 4,067,046. The stock has a fifty day moving average of $82.36 and a two-hundred day moving average of $82.27. The Bank of New York Mellon Co. has a 12-month low of $57.18 and a 12-month high of $90.63. The company has a market capitalization of $63.62 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 0.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the business posted $1.29 EPS. The company's revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.11%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is currently 30.62%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted 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 research note on Monday, March 3rd. Morgan Stanley decreased their price target on shares of 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 increased their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. 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 report on Monday, March 17th. Finally, Citigroup boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average target price of $92.08.

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.