Graphene Investments SAS Sells 5,000 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Graphene Investments SAS trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 11.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,600 shares of the bank's stock after selling 5,000 shares during the period. Bank of New York Mellon accounts for approximately 2.3% of Graphene Investments SAS's holdings, making the stock its 9th biggest position. Graphene Investments SAS's holdings in Bank of New York Mellon were worth $3,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BK. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the first quarter worth about $25,000. Alpine Bank Wealth Management acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $28,000. Finally, REAP Financial Group LLC lifted its position in shares of Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BK. Citigroup boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Evercore ISI upped their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price objective for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Finally, Morgan Stanley lifted their price objective 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. 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, Bank of New York Mellon presently 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 opened at $90.11 on Friday. The company's 50 day moving average price is $86.58 and its two-hundred day moving average price is $83.51. The firm has a market capitalization of $64.46 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.01 and a beta of 1.08. The Bank of New York Mellon Corporation has a fifty-two week low of $59.00 and a fifty-two week high of $92.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69.

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 the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. 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 last year, the company earned $1.29 EPS. As a group, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced 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 2.09%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction 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 transaction, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares in the company, 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. In the last 90 days, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by 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.

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