The Bank of New York Mellon Co. (NYSE:BK) Position Boosted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,111 shares of the bank’s stock after acquiring an additional 429 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bank of New York Mellon were worth $630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Raymond James & Associates grew its stake in shares of Bank of New York Mellon by 5.9% in the 3rd quarter. Raymond James & Associates now owns 470,999 shares of the bank’s stock valued at $20,088,000 after buying an additional 26,219 shares in the last quarter. IFM Investors Pty Ltd grew its stake in shares of Bank of New York Mellon by 5.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 175,287 shares of the bank’s stock valued at $7,476,000 after buying an additional 9,436 shares in the last quarter. Advisor Partners II LLC grew its stake in shares of Bank of New York Mellon by 5.0% in the 3rd quarter. Advisor Partners II LLC now owns 29,559 shares of the bank’s stock valued at $1,261,000 after buying an additional 1,412 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Bank of New York Mellon by 0.5% in the 3rd quarter. TD Asset Management Inc now owns 251,208 shares of the bank’s stock valued at $10,714,000 after buying an additional 1,145 shares in the last quarter. Finally, TIAA Trust National Association bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $1,137,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BK. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Jefferies Financial Group boosted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. UBS Group boosted their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Evercore ISI boosted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Citigroup boosted their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.17.

Insider Buying and Selling at Bank of New York Mellon

In other news, 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 transaction of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction that occurred on 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 accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value 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 disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock worth $5,459,897 over the last three months. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 0.1 %

Shares of BK stock opened at $57.40 on Wednesday. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The firm has a market cap of $43.21 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. The stock has a 50 day moving average of $56.25 and a 200-day moving average of $52.64. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

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. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the prior year, the company posted $1.13 earnings per share. Bank of New York Mellon’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders 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 yield of 2.93%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

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.