Yeomans Consulting Group Inc. Purchases Shares of 3,416 The Bank of New York Mellon Corporation (NYSE:BK)

Yeomans Consulting Group Inc. acquired a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 3,416 shares of the bank’s stock, valued at approximately $286,000.

Other hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $220,000. Parallel Advisors LLC raised its position in shares of Bank of New York Mellon by 3.0% during the 4th quarter. Parallel Advisors LLC now owns 12,450 shares of the bank’s stock worth $957,000 after purchasing an additional 363 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Bank of New York Mellon by 36.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 19,498 shares of the bank’s stock worth $1,498,000 after purchasing an additional 5,190 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Bank of New York Mellon by 69.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 18,436 shares of the bank’s stock worth $1,416,000 after purchasing an additional 7,584 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Bank of New York Mellon by 26.7% in the 4th quarter. Advisors Asset Management Inc. now owns 78,540 shares of the bank’s stock valued at $6,034,000 after acquiring an additional 16,552 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BK. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday. Evercore ISI upped their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup increased their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.38.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president directly owned 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 0.1%

NYSE:BK traded down $0.13 during trading hours on Friday, hitting $97.79. The stock had a trading volume of 348,077 shares, compared to its average volume of 4,118,766. The company has a market cap of $69.96 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.01 and a beta of 1.07. The Bank of New York Mellon Corporation has a one year low of $60.93 and a one year high of $98.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.69 and a current ratio of 0.72. The business’s 50 day moving average is $90.58 and its 200-day moving average is $85.07.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. The company had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 earnings per share. Sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be issued a dividend of $0.53 per share. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, July 25th. This represents a $2.12 annualized dividend and a yield of 2.17%. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

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.