Asset Management One Co. Ltd. Acquires 15,237 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Asset Management One Co. Ltd. increased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 331,393 shares of the bank's stock after acquiring an additional 15,237 shares during the period. Asset Management One Co. Ltd.'s holdings in Bank of New York Mellon were worth $27,794,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 1st quarter valued at about $25,000. Parvin Asset Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $28,000. REAP Financial Group LLC grew its holdings in Bank of New York Mellon by 123.2% in the 4th 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 last quarter. Finally, Transce3nd LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $0.11 during midday trading on Thursday, hitting $90.11. 4,527,836 shares of the company were exchanged, compared to its average volume of 4,099,117. 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 firm has a market cap of $64.46 billion, a P/E ratio of 14.68, a PEG ratio of 1.02 and a beta of 1.08. The Bank of New York Mellon Corporation has a 52 week low of $58.19 and a 52 week high of $92.64. The firm has a 50 day simple moving average of $86.30 and a 200-day simple moving average of $83.45.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate 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%. Bank of New York Mellon's revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $1.29 EPS. Research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors 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 annualized dividend and a dividend yield of 2.09%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the insider now owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock worth $7,869,795 in the last 90 days. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup raised 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. Evercore ISI raised their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Wells Fargo & Company raised their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their target price for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Finally, 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 report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.85.

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.