Focus Partners Wealth Increases Position in The Bank of New York Mellon Co. (NYSE:BK)

Focus Partners Wealth increased its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 38.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,349 shares of the bank's stock after buying an additional 9,231 shares during the period. Focus Partners Wealth's holdings in Bank of New York Mellon were worth $2,600,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $25,000. Bellwether Advisors LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth $28,000. Transce3nd LLC purchased a new stake in Bank of New York Mellon in the fourth quarter valued at about $33,000. South Plains Financial Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $35,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on BK shares. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Citigroup lifted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. UBS Group boosted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

Bank of New York Mellon Stock Up 1.5%

Shares of BK opened at $89.30 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.34. The stock has a market capitalization of $63.89 billion, a PE ratio of 15.37, a P/E/G ratio of 0.97 and a beta of 1.05. The company's 50-day simple moving average is $80.89 and its 200-day simple moving average is $81.24.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The business's revenue for the quarter was up 5.9% on a year-over-year basis. 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. Investors of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction 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 transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president now directly owns 55,115 shares of the company's stock, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last ninety days. Insiders own 0.14% of the company's stock.

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.

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