Achmea Investment Management B.V. Has $23.73 Million Stake in The Bank of New York Mellon Corporation (NYSE:BK)

Achmea Investment Management B.V. raised its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 282,925 shares of the bank's stock after purchasing an additional 9,654 shares during the period. Achmea Investment Management B.V.'s holdings in Bank of New York Mellon were worth $23,729,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $220,000. Sigma Planning Corp increased its stake in Bank of New York Mellon by 7.2% during the 4th quarter. Sigma Planning Corp now owns 5,862 shares of the bank's stock worth $450,000 after purchasing an additional 392 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $1,246,000. IFP Advisors Inc lifted its stake in Bank of New York Mellon by 42.4% in the fourth quarter. IFP Advisors Inc now owns 5,196 shares of the bank's stock valued at $399,000 after buying an additional 1,547 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in Bank of New York Mellon by 7.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 5,610 shares of the bank's stock valued at $431,000 after buying an additional 382 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Ratings Changes

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

Bank of New York Mellon Trading Up 0.1%

NYSE:BK opened at $90.11 on Friday. The Bank of New York Mellon Corporation has a 52 week low of $59.00 and a 52 week high of $92.64. The firm's fifty day moving average is $86.58 and its 200-day moving average is $83.51. The firm has a market cap of $64.46 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.01 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 issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. Equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.09%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Bank of New York Mellon Company 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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