CWA Asset Management Group LLC Increases Position in The Bank of New York Mellon Corporation (NYSE:BK)

CWA Asset Management Group LLC raised its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,159 shares of the bank's stock after buying an additional 3,148 shares during the quarter. CWA Asset Management Group LLC's holdings in Bank of New York Mellon were worth $3,536,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Analysts LLC increased its position in shares of Bank of New York Mellon by 3.7% in the 4th quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock valued at $255,000 after acquiring an additional 119 shares during the period. Cape Investment Advisory Inc. increased its holdings in shares of Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock valued at $90,000 after purchasing an additional 131 shares during the period. Syon Capital LLC increased its holdings in shares of Bank of New York Mellon by 2.5% in the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after purchasing an additional 132 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock worth $2,653,000 after purchasing an additional 133 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 1.1% during the first quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock worth $1,056,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Insiders Place Their Bets

In related 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 completion of the sale, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,114 shares of company stock worth $7,869,795. Company insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BK. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Wall Street Zen downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Truist Financial cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their target price for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. 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 research report on Monday, March 17th. Finally, Morgan Stanley increased their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average target price of $91.85.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $1.72 on Thursday, hitting $91.49. The company's stock had a trading volume of 5,006,789 shares, compared to its average volume of 4,082,562. The company has a market capitalization of $65.46 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The Bank of New York Mellon Corporation has a 1 year low of $58.19 and a 1 year high of $92.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a fifty day moving average price of $84.93 and a 200-day moving average price of $83.10.

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 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The business's revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 earnings per share. As a group, sell-side analysts anticipate 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 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.