Axxcess Wealth Management LLC Sells 4,645 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Axxcess Wealth Management LLC decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 38.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 7,466 shares of the bank’s stock after selling 4,645 shares during the period. Axxcess Wealth Management LLC’s holdings in Bank of New York Mellon were worth $430,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BK. Wetzel Investment Advisors Inc. increased its holdings in shares of Bank of New York Mellon by 82.1% in the first quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after acquiring an additional 230 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $28,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $32,000. Able Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth $32,000. Finally, Hartford Financial Management Inc. raised its holdings in shares of Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK traded up $0.54 during midday trading on Friday, reaching $65.35. The company’s stock had a trading volume of 3,898,661 shares, compared to its average volume of 4,424,193. The company has a market cap of $48.87 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.15 and a beta of 1.09. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $65.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70. The business’s 50 day moving average price is $60.39 and its two-hundred day moving average price is $57.49.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. Bank of New York Mellon’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 earnings per share. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.58 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 Friday, August 2nd. Shareholders of record on Monday, July 22nd will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.88%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the transaction, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the transaction, the vice president now directly owns 144,721 shares in the company, valued at $8,343,165.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,858 shares of company stock valued at $2,223,504. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BK shares. Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research note on Monday, July 15th. Bank of America upped their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Monday, July 15th. Evercore ISI upped their price target on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.23.

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.