Cantor Fitzgerald Investment Advisors L.P. Trims Stock Position in The Bank of New York Mellon Corporation (NYSE:BK)

Cantor Fitzgerald Investment Advisors L.P. decreased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 69.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,057 shares of the bank's stock after selling 135,437 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Bank of New York Mellon were worth $5,037,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC purchased a new position in Bank of New York Mellon during the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $28,000. REAP Financial Group LLC grew its position in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after acquiring an additional 218 shares during the last quarter. Finally, Transce3nd LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Activity 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 that occurred 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 sale, the executive vice president now owns 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the 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 sale, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

BK has been the topic of a number of recent research reports. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley raised their price target on 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. Evercore ISI upped 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 research note on Tuesday, April 1st. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Finally, Royal Bank Of Canada reissued 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus target price of $91.85.

Bank of New York Mellon Stock Up 1.9%

BK stock opened at $91.49 on Friday. 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 company's 50-day moving average price is $85.23 and its 200 day moving average price is $83.17. The Bank of New York Mellon Corporation has a 52 week low of $58.19 and a 52 week high of $92.08. The company has a market cap of $65.46 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.02 and a beta of 1.08.

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, topping the consensus estimate 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 business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the company earned $1.29 EPS. The company's quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts expect 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 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 given a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.05%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

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.

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