Crux Wealth Advisors Makes New $353,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Crux Wealth Advisors bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,600 shares of the bank's stock, valued at approximately $353,000.

Several other hedge funds also recently made changes to their positions in BK. FMR LLC boosted its position in shares of Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after acquiring an additional 3,732,862 shares during the last quarter. Norges Bank bought a new position in shares of Bank of New York Mellon in the 4th quarter worth $1,150,462,000. Arrowstreet Capital Limited Partnership grew its position in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock worth $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. Invesco Ltd. raised its position in Bank of New York Mellon by 2.4% during the fourth quarter. Invesco Ltd. now owns 7,596,210 shares of the bank's stock valued at $583,617,000 after purchasing an additional 175,704 shares in the last quarter. Finally, Amundi lifted its stake in Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after purchasing an additional 359,942 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.7 %

Shares of NYSE:BK traded up $0.52 during trading on Friday, hitting $76.25. The stock had a trading volume of 4,317,948 shares, compared to its average volume of 3,959,539. The company has a market capitalization of $54.75 billion, a PE ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03. The firm's fifty day moving average is $82.91 and its 200 day moving average is $80.26. The Bank of New York Mellon Co. has a 12 month low of $54.76 and a 12 month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the business earned $1.29 earnings per share. The business's revenue was up 5.9% on a year-over-year basis. Analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BK shares. Wolfe Research lowered Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. UBS Group raised their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Truist Financial lowered their target price on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Monday. Finally, StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $89.64.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

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.