1900 Wealth Management LLC Invests $232,000 in The Bank of New York Mellon Co. (NYSE:BK)

1900 Wealth Management LLC purchased a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,460 shares of the bank’s stock, valued at approximately $232,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Quent Capital LLC boosted its stake 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 purchasing an additional 182 shares in the last quarter. Hartford Financial Management Inc. boosted 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 in the last quarter. Commonwealth Retirement Investments LLC boosted its position in Bank of New York Mellon by 0.8% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock valued at $1,445,000 after buying an additional 221 shares during the period. Arjuna Capital boosted its position in Bank of New York Mellon by 0.5% during the 3rd quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock valued at $2,066,000 after buying an additional 251 shares during the period. Finally, BRYN MAWR TRUST Co boosted its position in Bank of New York Mellon by 3.3% during the 3rd quarter. BRYN MAWR TRUST Co now owns 8,000 shares of the bank’s stock valued at $341,000 after buying an additional 258 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.5 %

NYSE:BK opened at $57.45 on Wednesday. The company has a 50-day moving average price of $55.86 and a 200-day moving average price of $51.58. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. 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 stock has a market cap of $43.25 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.23 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion during 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%. Bank of New York Mellon’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. Equities analysts predict that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid 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 2.92%. Bank of New York Mellon’s payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

BK has been the subject of several analyst reports. Evercore ISI increased their price target 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 report on Thursday, April 4th. Jefferies Financial Group increased their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Citigroup increased their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley raised their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of the 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 completion of the transaction, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock worth $5,459,897 in the last three months. 0.14% of the stock is owned by corporate insiders.

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.