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

Envestnet Asset Management Inc. increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Several other large investors have also recently modified their holdings of the company. Penserra Capital Management LLC raised its stake in shares of Bank of New York Mellon by 141.0% during the 1st quarter. Penserra Capital Management LLC now owns 12,655 shares of the bank's stock worth $1,060,000 after acquiring an additional 7,403 shares in the last quarter. Tradewinds LLC. grew its position in Bank of New York Mellon by 4.8% during the 1st quarter. Tradewinds LLC. now owns 7,505 shares of the bank's stock worth $629,000 after purchasing an additional 344 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its position in Bank of New York Mellon by 15.2% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 8,161 shares of the bank's stock worth $684,000 after purchasing an additional 1,077 shares during the last quarter. HM Payson & Co. grew its position in Bank of New York Mellon by 4.4% during the 1st quarter. HM Payson & Co. now owns 8,581 shares of the bank's stock worth $720,000 after purchasing an additional 358 shares during the last quarter. Finally, Macroview Investment Management LLC purchased a new stake in Bank of New York Mellon during the 1st quarter worth approximately $214,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

NYSE BK traded up $0.60 during mid-day trading on Thursday, reaching $93.65. 1,130,052 shares of the stock were exchanged, compared to its average volume of 4,243,710. The business's 50 day moving average is $89.11 and its 200-day moving average is $84.35. The Bank of New York Mellon Corporation has a 1 year low of $60.47 and a 1 year high of $93.80. The company has a market capitalization of $67.00 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.03 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.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly 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. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS 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 2.01%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Analysts Set New Price Targets

BK has been the topic of several research analyst reports. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Morgan Stanley boosted their target price on shares of 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. Citigroup boosted 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 report 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 report on Monday, March 17th. Finally, Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their price objective for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $92.08.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction 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 directly owned 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president owned 55,115 shares of the company's stock, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. 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.

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.