3,384 Shares in The Bank of New York Mellon Corporation (NYSE:BK) Bought by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC purchased a new position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,384 shares of the bank's stock, valued at approximately $284,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Parvin Asset Management LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in Bank of New York Mellon during the first quarter valued at $25,000. Bellwether Advisors LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at $28,000. REAP Financial Group LLC lifted its position in Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after buying an additional 218 shares during the period. Finally, Transce3nd LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price objective for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Morgan Stanley raised their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Citigroup raised their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Finally, Evercore ISI lifted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's 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 sale, the insider now owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Price Performance

NYSE BK opened at $91.58 on Friday. The Bank of New York Mellon Corporation has a one year low of $58.19 and a one year high of $92.64. The stock has a 50-day moving average of $85.50 and a 200 day moving average of $83.27. The company has a market capitalization of $65.52 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period last year, the company earned $1.29 EPS. Bank of New York Mellon's revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.05%. Bank of New York Mellon's payout ratio is 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.

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