WCG Wealth Advisors LLC Grows Stock Holdings in Bank of New York Mellon Corporation $BNY

WCG Wealth Advisors LLC increased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 136.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,465 shares of the bank’s stock after acquiring an additional 24,522 shares during the period. WCG Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $4,930,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BNY. Jones Financial Companies Lllp raised its stake in shares of Bank of New York Mellon by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after acquiring an additional 8,277 shares in the last quarter. First National Bank of Omaha acquired a new position in Bank of New York Mellon during the 3rd quarter worth $3,044,000. Cullen Investment Group LTD. increased its holdings in Bank of New York Mellon by 1,691.4% during the 4th quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank’s stock worth $4,610,000 after purchasing an additional 36,568 shares during the period. Todd Asset Management LLC raised its position in Bank of New York Mellon by 37.5% in the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after purchasing an additional 101,142 shares in the last quarter. Finally, Cibc World Market Inc. increased its stake in shares of Bank of New York Mellon by 8.6% during the third quarter. Cibc World Market Inc. now owns 130,795 shares of the bank’s stock worth $14,251,000 after buying an additional 10,377 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 2.6%

Shares of NYSE:BNY opened at $144.24 on Friday. The stock has a 50-day simple moving average of $132.20 and a 200-day simple moving average of $122.43. The stock has a market capitalization of $99.00 billion, a P/E ratio of 17.87, a PEG ratio of 1.03 and a beta of 1.07. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $144.98. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the company posted $1.58 earnings per share. Bank of New York Mellon’s revenue was up 12.9% compared to the same quarter last year. Equities analysts forecast that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is 26.27%.

Insider Buying and Selling

In other news, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the sale, the executive vice president owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 in the last 90 days. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BNY shares. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a research report on Friday, April 17th. Barclays increased their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Finally, Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Company Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.