GTS Securities LLC Reduces Holdings in The Bank of New York Mellon Co. (NYSE:BK)

GTS Securities LLC cut its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 81.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,412 shares of the bank's stock after selling 46,626 shares during the quarter. GTS Securities LLC's holdings in Bank of New York Mellon were worth $800,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $28,000. Transce3nd LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $33,000. South Plains Financial Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $34,000. Finally, Graney & King LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded down $1.36 during midday trading on Wednesday, hitting $88.87. The stock had a trading volume of 3,221,622 shares, compared to its average volume of 4,067,153. 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 has a market capitalization of $63.58 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a fifty-two week low of $57.18 and a fifty-two week high of $91.17. The company's 50-day moving average price is $82.10 and its 200-day moving average price is $82.01.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping 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 firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period last year, the business posted $1.29 EPS. The business's revenue was up 5.9% compared to the same quarter last year. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is currently 30.62%.

Insider Activity

In related 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 stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now directly owns 87,542 shares in the company, valued at $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 SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction on 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 sale, the executive vice president now owns 55,115 shares in the company, valued at approximately $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. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BK. Wall Street Zen lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Evercore ISI raised their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Citigroup boosted their price objective on 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 reiterated a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Morgan Stanley decreased their target price on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price of $92.08.

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.