The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 51.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,124 shares of the bank's stock after selling 3,264 shares during the quarter. Fiduciary Financial Group LLC's holdings in Bank of New York Mellon were worth $239,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $1,150,462,000. FMR LLC boosted its stake in shares of Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after acquiring an additional 3,732,862 shares during the period. Northern Trust Corp grew its stake in Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock worth $117,414,000 after acquiring an additional 1,385,434 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $90,955,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Trading Down 0.3%

Shares of NYSE BK traded down $0.30 during mid-day trading on Thursday, reaching $89.26. The company had a trading volume of 917,003 shares, compared to its average volume of 4,052,063. The stock has a market cap of $63.86 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $57.18 and a 52 week high of $90.63. The business's 50-day moving average is $83.52 and its 200-day moving average is $82.81. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. Equities analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.11%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BK shares. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price target for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Citigroup upped their price objective 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. Finally, Wall Street Zen lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.85.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction that occurred 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 transaction, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction 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 transaction, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock valued at $7,869,795 in the last ninety days. Corporate insiders own 0.14% of the company's stock.

About Bank of New York Mellon

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.