Gen Wealth Partners Inc Has $59,000 Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Gen Wealth Partners Inc lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 18.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 701 shares of the bank’s stock after selling 161 shares during the quarter. Gen Wealth Partners Inc’s holdings in Bank of New York Mellon were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BK. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $25,000. Alpine Bank Wealth Management acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $28,000. Finally, REAP Financial Group LLC increased its position in Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after acquiring an additional 218 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Truist Financial raised their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Thursday. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a research report on Wednesday, July 2nd. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.08.

Bank of New York Mellon Stock Down 2.4%

Shares of NYSE BK opened at $100.91 on Friday. The firm has a market capitalization of $71.17 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.00 and a beta of 1.12. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a 1 year low of $65.01 and a 1 year high of $104.47. The firm’s 50-day moving average is $95.77 and its 200-day moving average is $88.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.51 earnings per share. Equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a dividend of $0.53 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, July 25th. Bank of New York Mellon’s dividend payout ratio is presently 32.37%.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.