Arete Wealth Advisors LLC Acquires Shares of 10,351 The Bank of New York Mellon Co. (NYSE:BK)

Arete Wealth Advisors LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,351 shares of the bank’s stock, valued at approximately $470,000.

Other large investors also recently modified their holdings of the company. Quilter Plc acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $446,850,000. Brown Brothers Harriman & Co. boosted its holdings in Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Exos TFP Holdings LLC bought a new position in Bank of New York Mellon in the fourth quarter valued at about $32,000. Sunbelt Securities Inc. bought a new position in Bank of New York Mellon in the first quarter valued at about $36,000. Finally, Sandy Spring Bank bought a new position in Bank of New York Mellon in the fourth quarter valued at about $36,000. 81.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Kurtis R. Kurimsky sold 14,045 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $45.64, for a total value of $641,013.80. Following the transaction, the insider now owns 23,816 shares of the company’s stock, valued at $1,086,962.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP J Kevin Mccarthy sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $46.33, for a total transaction of $1,621,550.00. Following the transaction, the executive vice president now directly owns 98,102 shares of the company’s stock, valued at $4,545,065.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 14,045 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $45.64, for a total transaction of $641,013.80. Following the transaction, the insider now directly owns 23,816 shares in the company, valued at $1,086,962.24. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $43.00 to $44.00 in a report on Wednesday, July 19th. Morgan Stanley dropped their price objective on Bank of New York Mellon from $49.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday. StockNews.com began coverage on Bank of New York Mellon in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Citigroup reduced their price target on shares of Bank of New York Mellon from $58.00 to $55.00 in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.00.

Bank of New York Mellon Trading Down 1.3 %

Shares of NYSE:BK opened at $45.21 on Friday. The Bank of New York Mellon Co. has a 52-week low of $36.22 and a 52-week high of $52.26. The company has a market capitalization of $35.21 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The company has a 50-day simple moving average of $44.86 and a 200 day simple moving average of $44.17. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, July 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.16. Bank of New York Mellon had a net margin of 10.95% and a return on equity of 11.88%. The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the business posted $1.15 EPS. Bank of New York Mellon’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 4.85 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Friday, July 28th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.72%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, July 27th. Bank of New York Mellon’s payout ratio is 48.98%.

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.