Allspring Global Investments Holdings LLC Lowers Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Allspring Global Investments Holdings LLC reduced its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 431,783 shares of the bank's stock after selling 150,508 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of Bank of New York Mellon worth $36,170,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BK. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth approximately $28,000. Finally, REAP Financial Group LLC lifted its holdings in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after buying an additional 218 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, the vice president directly owned 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock valued at $7,869,795 in the last three months. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Down 0.2%

Shares of NYSE:BK traded down $0.16 during trading on Thursday, hitting $91.93. 2,407,634 shares of the company were exchanged, compared to its average volume of 4,111,551. The firm's 50 day moving average price is $87.79 and its 200-day moving average price is $83.83. The Bank of New York Mellon Corporation has a 12-month low of $59.19 and a 12-month high of $93.03. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $65.77 billion, a P/E ratio of 14.97, a PEG ratio of 1.01 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. Bank of New York Mellon's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 earnings per share. On average, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.05%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Analysts Set New Price Targets

Several equities analysts have commented on BK shares. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Citigroup boosted their target price on 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. Evercore ISI increased their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research report on Wednesday. Royal Bank Of Canada reissued a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their target price for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $92.08.

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.