Allen Mooney & Barnes Investment Advisors LLC Purchases New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Allen Mooney & Barnes Investment Advisors LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,395 shares of the bank’s stock, valued at approximately $201,000.

Several other large investors have also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 11.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock valued at $60,426,000 after purchasing an additional 82,671 shares in the last quarter. Natixis Advisors LLC grew its position in Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after buying an additional 17,457 shares during the period. Benson Investment Management Company Inc. purchased a new position in Bank of New York Mellon in the first quarter valued at about $5,259,000. NEOS Investment Management LLC lifted its position in shares of Bank of New York Mellon by 31.6% during the 4th quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank’s stock valued at $3,584,000 after acquiring an additional 11,200 shares during the period. Finally, State of Tennessee Department of Treasury boosted its stake in shares of Bank of New York Mellon by 2.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 324,440 shares of the bank’s stock worth $24,927,000 after acquiring an additional 6,307 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock valued at $7,869,795 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BK shares. Truist Financial downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Citigroup increased their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.85.

Bank of New York Mellon Stock Down 0.5%

Shares of NYSE BK opened at $89.55 on Thursday. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63. The firm’s 50 day moving average price is $83.52 and its 200 day moving average price is $82.81. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market cap of $64.07 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 earnings per share. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

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.