The Bank of New York Mellon Corporation $BK Shares Sold by RPg Family Wealth Advisory LLC

RPg Family Wealth Advisory LLC cut its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 45.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 57,914 shares of the bank’s stock after selling 47,351 shares during the quarter. Bank of New York Mellon makes up 1.4% of RPg Family Wealth Advisory LLC’s holdings, making the stock its 26th biggest holding. RPg Family Wealth Advisory LLC’s holdings in Bank of New York Mellon were worth $5,277,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BK. Westside Investment Management Inc. grew its position in Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after acquiring an additional 127 shares during the period. Hoey Investments Inc. purchased a new position in Bank of New York Mellon in the second quarter valued at approximately $32,000. Orion Capital Management LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at about $32,000. GFG Capital LLC acquired a new position in Bank of New York Mellon during the 2nd quarter worth approximately $36,000. Finally, McClarren Financial Advisors Inc. purchased a new position in Bank of New York Mellon in the 1st quarter worth approximately $34,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

NYSE:BK opened at $112.13 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $108.34 and its 200 day moving average price is $101.27. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $113.74. The firm has a market cap of $78.19 billion, a P/E ratio of 16.18, a PEG ratio of 1.01 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The company had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of New York Mellon in a report on Monday. Truist Financial upped their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. Evercore ISI raised their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Finally, The Goldman Sachs Group boosted their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $111.29.

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.