Simplicity Wealth LLC Buys Shares of 13,681 The Bank of New York Mellon Co. (NYSE:BK)

Simplicity Wealth LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,681 shares of the bank's stock, valued at approximately $788,000.

Other large investors have also added to or reduced their stakes in the company. Quent Capital LLC raised its holdings in shares of Bank of New York Mellon by 3.8% during the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank's stock valued at $262,000 after acquiring an additional 182 shares during the last quarter. Hartford Financial Management Inc. raised its stake in Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank's stock valued at $33,000 after buying an additional 183 shares in the last quarter. Vivaldi Capital Management LP increased its position in shares of Bank of New York Mellon by 3.3% during the fourth quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank's stock worth $324,000 after purchasing an additional 192 shares in the last quarter. Certuity LLC increased its position in shares of Bank of New York Mellon by 2.3% during the fourth quarter. Certuity LLC now owns 8,972 shares of the bank's stock worth $467,000 after purchasing an additional 205 shares in the last quarter. Finally, Choreo LLC grew its holdings in shares of Bank of New York Mellon by 1.8% during the fourth quarter. Choreo LLC now owns 11,903 shares of the bank's stock worth $620,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 54,070 shares of the business's stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares of the company's stock, valued at $4,299,848. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,928 shares of company stock worth $6,475,216. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Price Performance

BK stock traded down $0.55 on Monday, hitting $58.95. 1,857,562 shares of the company's stock traded hands, compared to its average volume of 3,775,710. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $59.70. The stock has a market cap of $44.08 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 1.22 and a beta of 1.11. The stock has a fifty day moving average of $56.75 and a 200-day moving average of $53.67. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.98%.

Analyst Upgrades and Downgrades

BK has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Thursday, April 18th. Evercore ISI raised their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. Royal Bank of Canada reissued a "sector perform" rating and set a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Citigroup increased their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $60.17.

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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