23,264 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Wynn Capital LLC

Wynn Capital LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,264 shares of the bank’s stock, valued at approximately $1,211,000.

Several other hedge funds have also modified their holdings of BK. AE Wealth Management LLC lifted its position in shares of Bank of New York Mellon by 1.7% during the third quarter. AE Wealth Management LLC now owns 49,069 shares of the bank’s stock valued at $2,093,000 after buying an additional 813 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of Bank of New York Mellon by 58.5% during the third quarter. HB Wealth Management LLC now owns 8,224 shares of the bank’s stock valued at $351,000 after buying an additional 3,036 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Bank of New York Mellon by 23.4% during the third quarter. SG Americas Securities LLC now owns 61,911 shares of the bank’s stock valued at $2,641,000 after buying an additional 11,739 shares during the last quarter. Caprock Group LLC lifted its position in shares of Bank of New York Mellon by 8.9% during the third quarter. Caprock Group LLC now owns 28,517 shares of the bank’s stock valued at $1,216,000 after buying an additional 2,338 shares during the last quarter. Finally, Capital Asset Advisory Services LLC purchased a new stake in shares of Bank of New York Mellon during the third quarter valued at about $201,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction on 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 approximately $6,768,486.90. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock valued at $5,459,897 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on BK shares. Bank of America increased their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Jefferies Financial Group increased their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. 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 report on Wednesday, February 14th. 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 research report on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Stock Performance

NYSE:BK traded up $0.50 during midday trading on Wednesday, hitting $57.94. The company’s stock had a trading volume of 3,224,451 shares, compared to its average volume of 3,986,394. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The firm’s 50 day moving average is $55.86 and its 200-day moving average is $51.58. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The firm has a market cap of $43.62 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.23 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. Equities analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.90%. Bank of New York Mellon’s payout ratio 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.