Fayez Sarofim & Co Sells 113,920 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Fayez Sarofim & Co cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,825,290 shares of the bank's stock after selling 113,920 shares during the quarter. Fayez Sarofim & Co owned 0.39% of Bank of New York Mellon worth $217,067,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BK. McIlrath & Eck LLC raised its holdings in shares of Bank of New York Mellon by 3.8% during the 3rd quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank's stock worth $493,000 after buying an additional 254 shares in the last quarter. SkyView Investment Advisors LLC raised its position in Bank of New York Mellon by 3.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock worth $705,000 after purchasing an additional 345 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Bank of New York Mellon in the third quarter worth approximately $2,617,000. Wilmington Savings Fund Society FSB lifted its position in shares of Bank of New York Mellon by 340.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock worth $2,011,000 after purchasing an additional 21,641 shares during the period. Finally, Tidal Investments LLC lifted its holdings in Bank of New York Mellon by 7.1% in the third quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock valued at $2,426,000 after buying an additional 2,240 shares during the period. Institutional investors own 85.31% of the company's stock.

Insider Activity

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction that occurred on 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 disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on 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. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research note on Tuesday, April 1st. Barclays lifted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Finally, UBS Group upped their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Price Performance

Shares of BK stock traded down $0.05 on Friday, reaching $78.67. The company's stock had a trading volume of 2,507,972 shares, compared to its average volume of 3,965,036. The Bank of New York Mellon Co. has a 12-month low of $56.08 and a 12-month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $56.48 billion, a P/E ratio of 13.54, a PEG ratio of 0.97 and a beta of 1.03. The stock's 50 day simple moving average is $81.68 and its 200-day simple moving average is $80.47.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion during 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 firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's payout ratio is presently 30.62%.

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.