Balyasny Asset Management L.P. Lowers Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Balyasny Asset Management L.P. lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 97.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,940 shares of the bank's stock after selling 782,283 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Bank of New York Mellon were worth $1,762,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BK. Czech National Bank boosted its stake in shares of Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank's stock valued at $12,112,000 after purchasing an additional 7,316 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock valued at $60,426,000 after acquiring an additional 82,671 shares in the last quarter. Fifth Third Bancorp raised its holdings in Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock valued at $7,226,000 after acquiring an additional 7,935 shares in the last quarter. Natixis Advisors LLC raised its holdings in Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after acquiring an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $342,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insiders Place Their Bets

In related news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the transaction, the executive vice president now directly owns 55,115 shares of the company's stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,114 shares of company stock worth $7,869,795. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BK. Citigroup raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Barclays raised their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Morgan Stanley lowered their target price on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $86.99 on Tuesday. The firm has a market capitalization of $62.23 billion, a P/E ratio of 14.97, a PEG ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.34. The company's fifty day moving average is $80.68 and its two-hundred day moving average is $81.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. Analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.16%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

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.

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