506 Shares in The Bank of New York Mellon Corporation (NYSE:BK) Acquired by ORG Partners LLC

ORG Partners LLC acquired a new position in The Bank of New York Mellon Corporation (NYSE:BK) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 506 shares of the bank’s stock, valued at approximately $42,000.

Several other large investors have also recently bought and sold shares of BK. Parvin Asset Management LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter worth $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $28,000. REAP Financial Group LLC lifted its holdings in shares of Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after acquiring an additional 218 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $33,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Price Performance

BK stock opened at $91.58 on Monday. The firm’s 50-day moving average price is $85.50 and its two-hundred day moving average price is $83.28. The Bank of New York Mellon Corporation has a 12-month low of $58.19 and a 12-month high of $92.64. The stock has a market capitalization of $65.52 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.02 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter in the previous year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Finally, Truist Financial cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and lifted their target price for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $91.85.

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.