Kintegral Advisory LLC Reduces Stake in The Bank of New York Mellon Corporation (NYSE:BK)

Kintegral Advisory LLC cut its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 32.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,284 shares of the bank's stock after selling 34,961 shares during the period. Bank of New York Mellon accounts for 0.9% of Kintegral Advisory LLC's investment portfolio, making the stock its 24th largest holding. Kintegral Advisory LLC's holdings in Bank of New York Mellon were worth $5,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TrueMark Investments LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at about $4,282,000. O Shaughnessy Asset Management LLC lifted its stake in Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock valued at $60,426,000 after buying an additional 82,671 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Bank of New York Mellon by 29.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank's stock worth $18,740,000 after buying an additional 50,368 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock worth $21,971,000 after buying an additional 17,457 shares during the period. Finally, Benson Investment Management Company Inc. bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at $5,259,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of the company's 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 directly owned 87,542 shares of the company's stock, valued at $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the sale, the executive vice president owned 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,114 shares of company stock valued at $7,869,795. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

BK has been the topic of several research analyst reports. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their target price for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley upped their price objective on shares of 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. Royal Bank Of Canada restated 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. Citigroup boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Finally, Evercore ISI increased their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus price target of $92.08.

Bank of New York Mellon Stock Down 0.2%

Shares of Bank of New York Mellon stock traded down $0.16 on Friday, hitting $91.93. The company had a trading volume of 2,408,224 shares, compared to its average volume of 4,121,885. The Bank of New York Mellon Corporation has a 1 year low of $59.19 and a 1 year high of $92.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50 day moving average of $88.06 and a 200-day moving average of $83.92. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.03 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates 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 quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. As a group, sell-side 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 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.