The Bank of New York Mellon Corporation (NYSE:BK) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,357,747 shares of the bank's stock after acquiring an additional 93,850 shares during the quarter. Envestnet Asset Management Inc. owned about 0.33% of Bank of New York Mellon worth $197,744,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC raised its stake in shares of Bank of New York Mellon by 19.3% during the fourth 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 during the last quarter. Norges Bank acquired a new position in Bank of New York Mellon in the 4th quarter valued at $1,150,462,000. Ameriprise Financial Inc. raised its position in Bank of New York Mellon by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock worth $908,281,000 after buying an additional 35,413 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Bank of New York Mellon by 19.1% in the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock worth $732,468,000 after acquiring an additional 1,526,686 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of 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 acquiring an additional 1,125,493 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded up $0.35 during midday trading on Wednesday, hitting $93.04. 3,991,412 shares of the stock were exchanged, compared to its average volume of 4,131,284. The Bank of New York Mellon Corporation has a twelve month low of $59.41 and a twelve month high of $93.80. 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 has a 50 day moving average price of $88.86 and a 200-day moving average price of $84.29. The stock has a market cap of $66.56 billion, a P/E ratio of 15.15, a PEG ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. On average, research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.02%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reissued a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Morgan Stanley raised their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their price objective for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Finally, Evercore ISI raised 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 report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus target price of $92.08.

Insider Activity

In related news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president owned 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 55,115 shares of the company's stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 over the last three months. 0.14% of the stock is currently owned by corporate insiders.

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.