Quadcap Wealth Management LLC Has $698,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Quadcap Wealth Management LLC decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,085 shares of the bank’s stock after selling 582 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Bank of New York Mellon were worth $698,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital Investment Advisors LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $216,000. Wedmont Private Capital grew its holdings in shares of Bank of New York Mellon by 9.9% during the fourth quarter. Wedmont Private Capital now owns 6,292 shares of the bank’s stock worth $475,000 after purchasing an additional 568 shares during the last quarter. Miracle Mile Advisors LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $236,000. Accurate Wealth Management LLC grew its holdings in shares of Bank of New York Mellon by 7.7% during the fourth quarter. Accurate Wealth Management LLC now owns 5,491 shares of the bank’s stock worth $414,000 after purchasing an additional 393 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its holdings in shares of Bank of New York Mellon by 4.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 7,125 shares of the bank’s stock worth $547,000 after purchasing an additional 295 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $89.30 on Friday. The stock has a market capitalization of $63.89 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.34. The stock’s 50 day moving average price is $80.89 and its two-hundred day moving average price is $81.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the prior year, the business earned $1.29 EPS. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts predict 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 company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders 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 dividend yield of 2.11%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 over the last ninety days. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BK has been the topic of several research reports. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Truist Financial reduced their target price on Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Evercore ISI upped their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. Finally, Wells Fargo & Company upped their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.31.

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.