The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,141 shares of the bank’s stock after selling 1,803 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Bank of New York Mellon were worth $684,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after buying an additional 4,293,751 shares during the period. Artisan Partners Limited Partnership raised its stake in Bank of New York Mellon by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock worth $1,030,254,000 after purchasing an additional 144,162 shares during the period. Norges Bank purchased a new position in Bank of New York Mellon during the fourth quarter worth approximately $813,701,000. Northern Trust Corp raised its stake in Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after purchasing an additional 715,421 shares during the period. Finally, LSV Asset Management raised its stake in Bank of New York Mellon by 1.0% during the fourth quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock worth $383,723,000 after purchasing an additional 72,880 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK opened at $58.83 on Friday. The company has a fifty day simple moving average of $58.03 and a 200 day simple moving average of $55.62. The firm has a market cap of $43.99 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.20 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $60.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business 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%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the transaction, the insider now directly owns 24,346 shares in the company, valued at approximately $1,410,363.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold a total of 115,928 shares of company stock valued at $6,475,216 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

BK has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target 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 note on Thursday, April 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note 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 stock a “buy” rating in a research note on Thursday, April 18th. Finally, Bank of America raised 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 research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon 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.