CreativeOne Wealth LLC Has $418,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

CreativeOne Wealth LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 46.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,254 shares of the bank’s stock after purchasing an additional 2,315 shares during the period. CreativeOne Wealth LLC’s holdings in Bank of New York Mellon were worth $418,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. United Services Automobile Association boosted its holdings in Bank of New York Mellon by 6.9% in the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after purchasing an additional 1,640 shares during the period. Entropy Technologies LP bought a new position in Bank of New York Mellon in the first quarter valued at approximately $1,027,000. QRG Capital Management Inc. increased its stake in Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock valued at $7,351,000 after acquiring an additional 8,204 shares during the last quarter. Searle & CO. acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $234,000. Finally, Wakefield Asset Management LLLP acquired a new stake in Bank of New York Mellon in the first quarter valued at approximately $3,740,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.8 %

BK traded up $0.54 during midday trading on Friday, hitting $65.35. The company had a trading volume of 3,898,661 shares, compared to its average volume of 4,424,193. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $65.90. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $48.87 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.15 and a beta of 1.09. The stock’s 50 day moving average price is $60.39 and its 200 day moving average price is $57.49.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.58 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be paid a $0.47 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.88%. The ex-dividend date is Monday, July 22nd. Bank of New York Mellon’s payout ratio is 43.52%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BK shares. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Monday, July 15th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Jefferies Financial Group lifted their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Barclays lifted their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.23.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The disclosure for this sale can be found here. Insiders sold a total of 36,858 shares of company stock valued at $2,223,504 over the last three months. Corporate insiders own 0.14% of the company’s stock.

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.