Prime Capital Investment Advisors LLC Has $440,000 Stock Position in The Bank of New York Mellon Corporation $BK

Prime Capital Investment Advisors LLC reduced its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 34.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,826 shares of the bank’s stock after selling 2,532 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $440,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BK. Opal Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon during the first quarter worth $25,000. Cornerstone Planning Group LLC raised its holdings in Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after buying an additional 196 shares during the last quarter. Orion Capital Management LLC acquired a new position in Bank of New York Mellon during the first quarter worth $32,000. Finally, Hoey Investments Inc. acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $32,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price on the stock. Truist Financial increased their price objective on Bank of New York Mellon from $109.00 to $118.00 and gave the stock a “hold” rating in a research note on Thursday, October 2nd. TD Cowen began coverage on Bank of New York Mellon in a research report on Thursday, September 25th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods increased their price target on 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. Finally, Evercore ISI increased their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price of $106.77.

Bank of New York Mellon Trading Down 2.1%

Shares of Bank of New York Mellon stock opened at $104.63 on Friday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The firm has a market cap of $73.79 billion, a PE ratio of 15.97, a P/E/G ratio of 1.00 and a beta of 1.13. The stock has a fifty day moving average price of $105.10 and a 200-day moving average price of $93.68. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The firm had revenue of $4.38 billion during the quarter. Equities research analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, July 25th. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.37%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’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 sale, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Company 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.