The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. reduced its stake in The Bank of New York Mellon Corporation by 18.6% during the first quarter, now holding 122,797 shares worth approximately $10.3 million.
• The Bank of New York Mellon Corporation recently announced a quarterly dividend increase to $0.53 per share, up from $0.47, representing a 2.1% dividend yield.
• In the latest earnings report, the bank exceeded analysts' expectations, reporting $1.94 EPS versus the forecasted $1.73, while revenue increased 9.4% year-over-year.

Jefferies Financial Group Inc. decreased its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 18.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,797 shares of the bank's stock after selling 27,985 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Bank of New York Mellon were worth $10,299,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BK. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at $220,000. Summit Financial LLC raised its position in Bank of New York Mellon by 5.6% during the 4th quarter. Summit Financial LLC now owns 11,393 shares of the bank's stock valued at $875,000 after purchasing an additional 607 shares in the last quarter. HighPoint Advisor Group LLC raised its position in Bank of New York Mellon by 14.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 7,559 shares of the bank's stock valued at $581,000 after purchasing an additional 975 shares in the last quarter. Trexquant Investment LP bought a new stake in Bank of New York Mellon during the 4th quarter valued at $1,418,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Bank of New York Mellon during the 4th quarter valued at $210,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Performance

Shares of BK stock traded down $1.67 during mid-day trading on Friday, reaching $99.78. The stock had a trading volume of 3,665,800 shares, compared to its average volume of 4,302,989. The business's fifty day moving average is $93.13 and its 200-day moving average is $86.87. The company has a current ratio of 0.72, a quick ratio of 0.69 and a debt-to-equity ratio of 0.86. The firm has a market cap of $71.39 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.97 and a beta of 1.12. The Bank of New York Mellon Corporation has a 1-year low of $60.93 and a 1-year high of $103.16.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the business earned $1.51 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. On average, research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.1%. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date is Friday, July 25th. Bank of New York Mellon's dividend payout ratio (DPR) is 32.37%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BK shares. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Truist Financial upped their price objective on Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Morgan Stanley upped their price objective on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI upped their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.38.

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.