Western Wealth Management LLC Trims Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Western Wealth Management LLC lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,917 shares of the bank’s stock after selling 1,189 shares during the quarter. Western Wealth Management LLC’s holdings in Bank of New York Mellon were worth $672,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BK. Norges Bank acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $503,489,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Bank of New York Mellon by 74,433.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock valued at $278,343,000 after acquiring an additional 6,106,537 shares during the period. Barclays PLC increased its holdings in shares of Bank of New York Mellon by 126.2% in the 2nd quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock valued at $128,462,000 after acquiring an additional 1,609,730 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at $66,916,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Bank of New York Mellon by 142.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after acquiring an additional 951,730 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $56.29 on Friday. The firm has a market capitalization of $42.38 billion, a P/E ratio of 13.73, a PEG ratio of 1.19 and a beta of 1.12. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The company’s fifty day moving average is $55.76 and its two-hundred day moving average is $51.30. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. Analysts forecast that The Bank of New York Mellon Co. will post 5.42 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Analyst Ratings Changes

A number of equities analysts have recently commented on BK shares. Bank of America lifted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Citigroup boosted their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. UBS Group boosted their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $52.00 to $62.00 in a research note on Tuesday, January 30th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.06.

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.