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

WCG Wealth Advisors LLC boosted its position in Bank of New York Mellon Corporation (NYSE:BNY) by 136.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 42,465 shares of the bank’s stock after acquiring an additional 24,522 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $4,930,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Bank of New York Mellon by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock valued at $8,279,525,000 after purchasing an additional 647,847 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after purchasing an additional 19,561,793 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Bank of New York Mellon by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after purchasing an additional 2,034,781 shares during the last quarter. Norges Bank acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $1,398,624,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock valued at $771,080,000 after buying an additional 6,119,749 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the sale, the insider directly owned 17,259 shares of the company’s stock, valued at approximately $2,347,569.18. This represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Up 2.6%

Bank of New York Mellon stock opened at $144.24 on Friday. The firm has a market cap of $99.00 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50 day moving average price is $132.20 and its two-hundred day moving average price is $122.43. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $144.98.

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

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s payout ratio is presently 26.27%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Evercore set a $136.00 target price on shares of Bank of New York Mellon in a research note on Friday, April 17th. Royal Bank Of Canada increased their price target on Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Friday, April 17th. Truist Financial increased their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Barclays raised their price objective on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.