Peddock Capital Advisors LLC Invests $218,000 in The Bank of New York Mellon Co. (NYSE:BK)

Peddock Capital Advisors LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,180 shares of the bank’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Charles Schwab Investment Management Inc. lifted its holdings in Bank of New York Mellon by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,802,627 shares of the bank’s stock valued at $249,977,000 after buying an additional 70,146 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Bank of New York Mellon by 45.6% in the 4th quarter. Apollon Wealth Management LLC now owns 18,744 shares of the bank’s stock valued at $976,000 after purchasing an additional 5,872 shares during the period. Lincoln National Corp boosted its position in shares of Bank of New York Mellon by 1.9% during the 4th quarter. Lincoln National Corp now owns 14,980 shares of the bank’s stock valued at $780,000 after purchasing an additional 276 shares in the last quarter. Private Advisor Group LLC grew its stake in Bank of New York Mellon by 2.5% during the fourth quarter. Private Advisor Group LLC now owns 35,744 shares of the bank’s stock worth $1,860,000 after purchasing an additional 867 shares during the period. Finally, Avidian Wealth Solutions LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth approximately $205,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BK has been the subject of several recent analyst reports. 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 research report on Thursday, April 4th. Citigroup raised their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. UBS Group upped their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Jefferies Financial Group raised their target price 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. Finally, Bank of America upped their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Activity at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,568 shares of company stock worth $5,459,897. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK traded down $0.08 during trading on Tuesday, reaching $57.40. The company’s stock had a trading volume of 2,801,237 shares, compared to its average volume of 3,875,974. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. The firm has a 50 day moving average of $56.25 and a 200-day moving average of $52.64. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

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

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.93%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

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.