Alta Advisers Ltd Makes New $287,000 Investment in The Bank of New York Mellon Corporation (NYSE:BK)

Alta Advisers Ltd acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,424 shares of the bank's stock, valued at approximately $287,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital Analysts LLC increased its holdings in Bank of New York Mellon by 3.7% in the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock valued at $255,000 after buying an additional 119 shares in the last quarter. Syon Capital LLC boosted its stake in shares of Bank of New York Mellon by 2.5% during the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock worth $417,000 after acquiring an additional 132 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Bank of New York Mellon by 1.1% in the 1st quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock worth $1,056,000 after acquiring an additional 139 shares during the period. Valmark Advisers Inc. increased its stake in Bank of New York Mellon by 1.1% in the 1st quarter. Valmark Advisers Inc. now owns 12,821 shares of the bank's stock valued at $1,075,000 after purchasing an additional 142 shares in the last quarter. Finally, NBT Bank N A NY raised its holdings in Bank of New York Mellon by 1.5% during the fourth quarter. NBT Bank N A NY now owns 10,515 shares of the bank's stock worth $808,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BK. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Evercore ISI increased their price target on shares of 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. Truist Financial cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price objective for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $92.08.

Bank of New York Mellon Trading Down 0.2%

Shares of Bank of New York Mellon stock traded down $0.16 during trading hours on Friday, hitting $91.93. The company's stock had a trading volume of 2,408,224 shares, compared to its average volume of 4,121,885. The business has a fifty day moving average of $88.06 and a 200 day moving average of $83.92. The Bank of New York Mellon Corporation has a 1-year low of $59.19 and a 1-year high of $92.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $65.77 billion, a PE ratio of 14.97, a P/E/G ratio of 1.03 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly 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. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter in the prior year, the business earned $1.29 EPS. Bank of New York Mellon's quarterly revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a dividend of $0.47 per share. 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 dividend payout ratio (DPR) is 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's 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 owned 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% 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 worth $7,869,795 over the last ninety days. Company insiders own 0.14% of the company's stock.

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.