Fifth Third Wealth Advisors LLC Sells 5,705 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Fifth Third Wealth Advisors LLC lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 28.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 14,562 shares of the bank's stock after selling 5,705 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Bank of New York Mellon were worth $1,221,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of Bank of New York Mellon by 57.6% in the fourth quarter. Blue Trust Inc. now owns 2,637 shares of the bank's stock worth $189,000 after acquiring an additional 964 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $220,000. Mediolanum International Funds Ltd bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $1,221,000. Austin Private Wealth LLC boosted its stake in shares of Bank of New York Mellon by 7.0% in the fourth quarter. Austin Private Wealth LLC now owns 3,656 shares of the bank's stock worth $281,000 after acquiring an additional 239 shares during the period. Finally, Waldron Private Wealth LLC boosted its stake in shares of Bank of New York Mellon by 100.6% in the fourth quarter. Waldron Private Wealth LLC now owns 12,940 shares of the bank's stock worth $994,000 after acquiring an additional 6,490 shares during the period. Institutional investors own 85.31% of the company's stock.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BK has been the subject of a number of recent analyst reports. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their price objective for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Wells Fargo & Company upped their price objective on 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. Wall Street Zen downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. 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. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.85.

Bank of New York Mellon Trading Up 0.1%

BK stock traded up $0.13 during midday trading on Thursday, reaching $88.46. 3,214,332 shares of the company traded hands, compared to its average volume of 4,079,436. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.63. 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 business has a 50 day moving average of $82.74 and a 200-day moving average of $82.50. The firm has a market capitalization of $63.29 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business 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 business posted $1.29 earnings per share. The company's quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm 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 of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. 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.