WealthTrust Axiom LLC Has $727,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

WealthTrust Axiom LLC raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 78.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,971 shares of the bank’s stock after acquiring an additional 6,154 shares during the period. WealthTrust Axiom LLC’s holdings in Bank of New York Mellon were worth $727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC grew its position in shares of Bank of New York Mellon by 3.8% in the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after buying an additional 182 shares during the last quarter. Hartford Financial Management Inc. lifted its stake in shares of Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares during the period. Certuity LLC lifted its stake in shares of Bank of New York Mellon by 2.3% in the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after purchasing an additional 205 shares during the period. Choreo LLC lifted its stake in shares of Bank of New York Mellon by 1.8% in the 4th quarter. Choreo LLC now owns 11,903 shares of the bank’s stock valued at $620,000 after purchasing an additional 208 shares during the period. Finally, Commonwealth Retirement Investments LLC lifted its stake in shares of Bank of New York Mellon by 0.8% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock valued at $1,445,000 after purchasing an additional 221 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the 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 sale, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,568 shares of company stock valued at $5,459,897. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock traded down $0.56 during trading on Tuesday, hitting $56.77. The company’s stock had a trading volume of 1,565,323 shares, compared to its average volume of 3,908,070. The company has a market cap of $42.74 billion, a PE ratio of 13.99, a P/E/G ratio of 1.23 and a beta of 1.12. 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 business has a fifty day moving average of $56.05 and a 200-day moving average of $52.02. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company 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 quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on 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. Citigroup upped their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. UBS Group increased their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, Bank of America increased their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five equities research 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

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.