Apollon Wealth Management LLC Purchases 840 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Apollon Wealth Management LLC increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,868 shares of the bank’s stock after acquiring an additional 840 shares during the quarter. Apollon Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,356,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC grew its stake in Bank of New York Mellon by 28.1% in the 1st quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock worth $612,000 after buying an additional 2,328 shares in the last quarter. Blair William & Co. IL grew its stake in Bank of New York Mellon by 1.6% in the 1st quarter. Blair William & Co. IL now owns 21,393 shares of the bank’s stock worth $1,233,000 after buying an additional 338 shares in the last quarter. Tocqueville Asset Management L.P. grew its stake in Bank of New York Mellon by 4.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 13,492 shares of the bank’s stock worth $777,000 after buying an additional 528 shares in the last quarter. M&G Plc purchased a new position in Bank of New York Mellon in the 1st quarter worth approximately $55,543,000. Finally, Councilmark Asset Management LLC purchased a new position in Bank of New York Mellon in the 1st quarter worth approximately $1,504,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $77.58 on Friday. The company’s 50-day moving average is $73.56 and its 200 day moving average is $65.66. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $56.41 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The Bank of New York Mellon Co. has a one year low of $46.04 and a one year high of $80.29.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Analyst Ratings Changes

A number of equities analysts have commented on BK shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. The Goldman Sachs Group upped their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.08.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

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.