Apollon Wealth Management LLC Has $976,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Apollon Wealth Management LLC lifted its position in The Bank of New York Mellon Co. (NYSE:BK) by 45.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,744 shares of the bank’s stock after purchasing an additional 5,872 shares during the quarter. Apollon Wealth Management LLC’s holdings in Bank of New York Mellon were worth $976,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hartford Financial Management Inc. increased its stake in shares of 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. Blue Trust Inc. raised its stake in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after purchasing an additional 754 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of several recent research reports. Bank of America boosted their price objective on 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. 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. Morgan Stanley raised 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 research note on Thursday, April 18th. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Jefferies Financial Group raised their price target 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. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.17.

Insiders Place Their Bets

In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the sale, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction 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. Insiders have sold a total of 115,928 shares of company stock valued at $6,475,216 over the last 90 days. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Up 1.5 %

Bank of New York Mellon stock opened at $58.35 on Friday. The company has a fifty day simple moving average of $56.28 and a 200 day simple moving average of $52.68. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.52. The company has a market cap of $43.93 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.13 earnings per share. Research analysts anticipate that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.88%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

Bank of New York Mellon Company 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.