The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 14.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,322 shares of the bank’s stock after selling 3,731 shares during the period. WCG Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $1,277,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BK. United Services Automobile Association boosted its stake in shares of Bank of New York Mellon by 6.9% during the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock worth $1,325,000 after acquiring an additional 1,640 shares in the last quarter. Entropy Technologies LP purchased a new stake in Bank of New York Mellon during the first quarter worth $1,027,000. QRG Capital Management Inc. grew its holdings in Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock valued at $7,351,000 after purchasing an additional 8,204 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in Bank of New York Mellon in the first quarter valued at $3,740,000. Finally, Bessemer Group Inc. increased its position in shares of Bank of New York Mellon by 128.8% in the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock valued at $1,771,000 after buying an additional 17,312 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 0.9 %

Shares of BK stock opened at $71.71 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $71.92. The firm’s 50 day moving average price is $65.83 and its two-hundred day moving average price is $60.53. The stock has a market cap of $53.63 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BK. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Barclays increased their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Citigroup lifted their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI increased their target price on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.59.

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.