Transform Wealth LLC Has $11 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Transform Wealth LLC increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,101 shares of the bank’s stock after buying an additional 5,072 shares during the period. Transform Wealth LLC’s holdings in Bank of New York Mellon were worth $10,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BK. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at approximately $28,000. REAP Financial Group LLC grew its holdings in Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at approximately $33,000. Finally, South Plains Financial Inc. acquired a new position in Bank of New York Mellon during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on BK shares. Truist Financial downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and increased their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Morgan Stanley increased their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Royal Bank of Canada reiterated 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. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Finally, Citigroup increased their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.85.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares of the company’s stock, valued at approximately $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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.

Bank of New York Mellon Stock Down 0.1%

Shares of BK stock opened at $89.96 on Wednesday. The stock has a market cap of $64.36 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63. The stock has a fifty day moving average price of $83.19 and a 200 day moving average price of $82.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its 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 analysts’ expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $1.29 earnings per share. 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. Investors of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.09%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 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.