Axxcess Wealth Management LLC Has $630,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Axxcess Wealth Management LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,111 shares of the bank’s stock after buying an additional 429 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bank of New York Mellon were worth $630,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Bank of New York Mellon by 142.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after acquiring an additional 951,730 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bank of New York Mellon by 153.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after acquiring an additional 941,193 shares during the last quarter. Barclays PLC increased its position in shares of Bank of New York Mellon by 30.0% during the third quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock valued at $160,020,000 after acquiring an additional 866,548 shares during the last quarter. Northern Trust Corp increased its position in shares of Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after acquiring an additional 715,421 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Bank of New York Mellon by 1,191.2% during the third quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock valued at $31,953,000 after acquiring an additional 691,172 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BK. Bank of America increased their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Jefferies Financial Group raised their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley raised their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Citigroup raised their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Price Performance

NYSE:BK opened at $57.40 on Wednesday. The stock has a fifty day moving average of $56.25 and a 200 day moving average of $52.64. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The firm has a market capitalization of $43.21 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.93%. Bank of New York Mellon’s payout ratio is 40.98%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock worth $5,459,897 over the last 90 days. Corporate 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.