CGN Advisors LLC Sells 4,396 Shares of The Bank of New York Mellon Co. (NYSE:BK)

CGN Advisors LLC lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 12.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 29,868 shares of the bank's stock after selling 4,396 shares during the period. CGN Advisors LLC's holdings in Bank of New York Mellon were worth $2,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth $25,000. Bellwether Advisors LLC bought a new stake in Bank of New York Mellon during the 4th quarter worth about $28,000. REAP Financial Group LLC lifted its position in Bank of New York Mellon by 123.2% during the 4th 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. Transce3nd LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $33,000. Finally, South Plains Financial Inc. bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $34,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares of the company's stock, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now directly owns 55,115 shares of the company's stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BK has been the topic of several analyst reports. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their price objective for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Evercore ISI lifted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. 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 research note on Monday, March 24th. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Wall Street Zen cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.85.

Bank of New York Mellon Stock Down 1.0%

Shares of NYSE:BK traded down $0.85 during mid-day trading on Wednesday, reaching $88.47. 4,026,663 shares of the stock were exchanged, compared to its average volume of 4,070,013. The stock's 50 day simple moving average is $82.54 and its 200-day simple moving average is $82.39. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63. The company has a market cap of $63.29 billion, a P/E ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.05. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period last year, the company earned $1.29 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

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.