The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC decreased its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 52.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,227 shares of the bank's stock after selling 43,147 shares during the period. Alpine Woods Capital Investors LLC's holdings in Bank of New York Mellon were worth $3,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $220,000. Proficio Capital Partners LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at $11,575,000. Daiwa Securities Group Inc. grew its position in shares of Bank of New York Mellon by 26.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 122,006 shares of the bank's stock valued at $9,374,000 after purchasing an additional 25,610 shares during the period. Independent Advisor Alliance increased its stake in shares of Bank of New York Mellon by 106.2% during the fourth quarter. Independent Advisor Alliance now owns 11,487 shares of the bank's stock worth $883,000 after purchasing an additional 5,915 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its stake in shares of Bank of New York Mellon by 401.1% during the fourth quarter. Wealthfront Advisers LLC now owns 277,558 shares of the bank's stock worth $21,325,000 after purchasing an additional 222,169 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president directly owned 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the 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 transaction, the vice president directly owned 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. 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 currently owned by company insiders.

Bank of New York Mellon Trading Up 0.0%

Bank of New York Mellon stock traded up $0.04 during midday trading on Friday, hitting $93.70. 4,276,886 shares of the stock were exchanged, compared to its average volume of 4,117,795. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The stock's 50-day simple moving average is $89.60 and its 200 day simple moving average is $84.66. The Bank of New York Mellon Corporation has a fifty-two week low of $60.93 and a fifty-two week high of $93.93. The stock has a market capitalization of $67.04 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.00 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 (EPS) 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 net margin of 11.78% and a return on equity of 12.96%. The business's revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 EPS. On average, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Analysts Set New Price Targets

BK has been the topic of several research analyst reports. Evercore ISI lifted their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Citigroup lifted their price target 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. Royal Bank Of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. 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 report on Wednesday, May 28th. Finally, Morgan Stanley upped their target price on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.08.

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.