Gould Capital LLC Decreases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Gould Capital LLC decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,253 shares of the bank's stock after selling 12,511 shares during the period. Bank of New York Mellon comprises 2.1% of Gould Capital LLC's portfolio, making the stock its 17th biggest position. Gould Capital LLC's holdings in Bank of New York Mellon were worth $3,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp boosted its stake in Bank of New York Mellon by 11.8% in the fourth quarter. Mackenzie Financial Corp now owns 100,179 shares of the bank's stock valued at $7,697,000 after acquiring an additional 10,590 shares during the last quarter. Forum Financial Management LP boosted its position in Bank of New York Mellon by 6.8% during the 4th quarter. Forum Financial Management LP now owns 24,091 shares of the bank's stock worth $1,851,000 after acquiring an additional 1,526 shares during the last quarter. WCG Wealth Advisors LLC boosted its holdings in Bank of New York Mellon by 4.7% during the fourth quarter. WCG Wealth Advisors LLC now owns 22,556 shares of the bank's stock worth $1,733,000 after purchasing an additional 1,011 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Bank of New York Mellon by 1,298.5% in the 4th quarter. Sunbelt Securities Inc. now owns 7,454 shares of the bank's stock valued at $575,000 after acquiring an additional 6,921 shares in the last quarter. Finally, Vise Technologies Inc. grew its stake in Bank of New York Mellon by 32.3% in the fourth quarter. Vise Technologies Inc. now owns 11,805 shares of the bank's stock valued at $907,000 after purchasing an additional 2,880 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Buying and Selling

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

Bank of New York Mellon Trading Down 1.5%

NYSE BK traded down $1.36 on Wednesday, hitting $88.87. The company's stock had a trading volume of 3,221,622 shares, compared to its average volume of 4,067,153. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $91.17. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company's 50-day moving average is $82.10 and its 200 day moving average is $82.01. The firm has a market cap of $63.58 billion, a PE ratio of 15.30, a PEG ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate 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 11.35% and a return on equity of 12.68%. Bank of New York Mellon'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 company posted $1.29 earnings per share. As a group, analysts predict 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 business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.12%. 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 subject of a number of analyst reports. Truist Financial downgraded 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 research report on Wednesday. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Wall Street Zen downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Seven 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.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.08.

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.