E. Ohman J or Asset Management AB Has $2.52 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

E. Ohman J or Asset Management AB reduced its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 30,003 shares of the bank's stock after selling 4,800 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Bank of New York Mellon were worth $2,516,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $28,000. REAP Financial Group LLC boosted its stake in 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 in the last quarter. Transce3nd LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $33,000. Finally, South Plains Financial Inc. bought a new position in Bank of New York Mellon during the fourth quarter worth $34,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BK. Citigroup increased their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Royal Bank of Canada reissued 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. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Truist Financial cut 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 report on Wednesday, May 28th. Finally, Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.85.

Insider Transactions at Bank of New York Mellon

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 shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the transaction, the insider now owns 21,679 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business'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 transaction of $2,370,900.00. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock worth $7,869,795 over the last quarter. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $90.33 on Friday. The firm has a market cap of $64.63 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a 52 week low of $57.18 and a 52 week high of $90.63. The firm's 50-day simple moving average is $82.87 and its two-hundred day simple moving average is $82.59.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The business 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 11.35% and a return on equity of 12.68%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.08%. 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.

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