10,200 Shares in The Bank of New York Mellon Corporation (NYSE:BK) Purchased by Board of the Pension Protection Fund

Board of the Pension Protection Fund bought a new stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,200 shares of the bank's stock, valued at approximately $855,000.

Several other hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management purchased a new position in Bank of New York Mellon during the first quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $25,000. Parvin Asset Management LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $25,000. Bellwether Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $28,000. Finally, REAP Financial Group LLC raised its position in Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after purchasing an additional 218 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BK shares. Evercore ISI boosted their price objective 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. Citigroup increased 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 report on Monday, March 24th. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Morgan Stanley raised their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

Bank of New York Mellon Stock Up 1.4%

Shares of BK traded up $1.24 during mid-day trading on Friday, reaching $91.28. The company's stock had a trading volume of 6,279,061 shares, compared to its average volume of 4,107,104. The company's 50 day moving average is $86.58 and its 200 day moving average is $83.51. The stock has a market cap of $65.31 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08. The Bank of New York Mellon Corporation has a 12-month low of $59.00 and a 12-month high of $92.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69.

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 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates 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 firm's revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. Equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared 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 2.06%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insider Activity at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was 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 directly owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 now directly owns 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 over the last ninety days. 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.