Unique Wealth Strategies LLC Makes New $732,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Unique Wealth Strategies LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,071 shares of the bank’s stock, valued at approximately $732,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BK. Hartford Financial Management Inc. raised its position in 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 valued at $33,000 after purchasing an additional 183 shares in the last quarter. Addison Advisors LLC raised its position in Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after purchasing an additional 754 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in Bank of New York Mellon during the third quarter valued at about $38,000. Blue Trust Inc. raised its position in Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after purchasing an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Bank of New York Mellon during the third quarter valued at about $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK traded up $0.14 during trading hours on Friday, reaching $57.32. The company had a trading volume of 2,058,025 shares, compared to its average volume of 3,589,079. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28. The firm has a market cap of $43.15 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.23 and a beta of 1.12. The firm’s 50 day moving average price is $56.01 and its 200-day moving average price is $51.77.

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

Bank of New York Mellon Announces Dividend

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

Insider Activity

In related news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock valued at $5,459,897 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley raised their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Bank of America raised their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

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.