CWA Asset Management Group LLC Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

CWA Asset Management Group LLC increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 37.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,011 shares of the bank’s stock after acquiring an additional 10,620 shares during the quarter. CWA Asset Management Group LLC’s holdings in Bank of New York Mellon were worth $2,997,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BK. McClarren Financial Advisors Inc. lifted its position in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares during the period. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter worth approximately $32,000. Fortitude Family Office LLC lifted its holdings in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the period. Modus Advisors LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at $49,000. Finally, Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon in the 3rd quarter valued at $46,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Up 1.3 %

BK stock opened at $77.91 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50 day simple moving average is $78.44 and its 200-day simple moving average is $71.19. The Bank of New York Mellon Co. has a 12 month low of $52.09 and a 12 month high of $82.72. The firm has a market capitalization of $56.65 billion, a PE ratio of 16.94, a P/E/G ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Equities analysts expect that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Analysts Set New Price Targets

BK has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

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.