ORG Wealth Partners LLC Invests $94,000 in The Bank of New York Mellon Corporation (NYSE:BK)

ORG Wealth Partners LLC purchased a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,117 shares of the bank’s stock, valued at approximately $94,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hartford Financial Management Inc. grew its holdings in shares of Bank of New York Mellon by 43.5% during the first quarter. Hartford Financial Management Inc. now owns 723 shares of the bank’s stock worth $61,000 after purchasing an additional 219 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in shares of Bank of New York Mellon by 0.7% in the first quarter. Premier Path Wealth Partners LLC now owns 23,214 shares of the bank’s stock valued at $1,947,000 after buying an additional 170 shares during the last quarter. Friedenthal Financial lifted its position in Bank of New York Mellon by 26.0% during the 1st quarter. Friedenthal Financial now owns 926 shares of the bank’s stock worth $78,000 after buying an additional 191 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Bank of New York Mellon by 1.4% during the 1st quarter. State of Alaska Department of Revenue now owns 84,104 shares of the bank’s stock worth $7,053,000 after acquiring an additional 1,200 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in Bank of New York Mellon by 8.1% during the 1st quarter. CWA Asset Management Group LLC now owns 42,159 shares of the bank’s stock worth $3,536,000 after acquiring an additional 3,148 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 1.9%

NYSE BK opened at $91.49 on Friday. The Bank of New York Mellon Corporation has a 12 month low of $58.19 and a 12 month high of $92.08. The stock has a 50-day simple moving average of $85.23 and a 200 day simple moving average of $83.17. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $65.46 billion, a PE ratio of 14.90, a P/E/G ratio of 1.02 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. Bank of New York Mellon’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. Research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BK shares. Evercore ISI upped their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Wells Fargo & Company upped their price objective on 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. Royal Bank Of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Citigroup boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Finally, Truist Financial cut Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their price target for the company from $87.00 to $97.00 in a 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 stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $91.85.

Insiders Place Their Bets

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares of the company’s stock, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,114 shares of company stock worth $7,869,795. Company insiders own 0.14% of the company’s stock.

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.