1900 Wealth Management LLC Invests $232,000 in The Bank of New York Mellon Co. (NYSE:BK)

1900 Wealth Management LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, Holdings Channel.com reports. The firm acquired 4,460 shares of the bank’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bank of New York Mellon by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after buying an additional 40,969 shares in the last quarter. Trust Point Inc. purchased a new stake in Bank of New York Mellon during the fourth quarter worth $310,000. WCG Wealth Advisors LLC purchased a new stake in Bank of New York Mellon during the third quarter worth $1,552,000. Meeder Asset Management Inc. purchased a new stake in Bank of New York Mellon during the fourth quarter worth $1,298,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Bank of New York Mellon by 22.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock worth $109,088,000 after buying an additional 465,229 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock worth $5,459,897 over the last three months. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent analyst reports. Bank of America increased their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. UBS Group increased their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. 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 report on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $57.45 on Wednesday. The firm has a 50-day simple moving average of $55.86 and a 200-day simple moving average of $51.58. The stock has a market capitalization of $43.25 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

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.