The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Cwm LLC

CWM LLC cut its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 331,511 shares of the bank's stock after selling 19,288 shares during the quarter. CWM LLC's holdings in Bank of New York Mellon were worth $27,804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BK. FMR LLC boosted its position in shares of Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Norges Bank acquired a new stake in Bank of New York Mellon during the 4th quarter worth about $1,150,462,000. Ameriprise Financial Inc. boosted its position in Bank of New York Mellon by 0.3% in the fourth quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock valued at $908,281,000 after buying an additional 35,413 shares during the last quarter. Northern Trust Corp boosted its position in Bank of New York Mellon by 19.1% in the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after buying an additional 1,526,686 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after buying an additional 1,125,493 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the 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 directly owned 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded down $0.44 during midday trading on Tuesday, reaching $94.81. 2,851,068 shares of the company's stock traded hands, compared to its average volume of 4,278,367. The Bank of New York Mellon Corporation has a 1 year low of $60.93 and a 1 year high of $96.47. The company has a market cap of $67.83 billion, a P/E ratio of 15.44, a PEG ratio of 1.00 and a beta of 1.07. 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 company has a fifty day simple moving average of $89.86 and a two-hundred day simple moving average of $84.78.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $1.93 EPS for the quarter, beating the consensus estimate of $1.73 by $0.20. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the company earned $1.51 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be paid a $0.53 dividend. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 2.24%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BK shares. Citigroup upped 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 report on Monday, March 24th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Morgan Stanley upped their target price on 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. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their target price for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Finally, Evercore ISI upped their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average target price of $92.08.

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.