Lbp Am Sa Cuts Stake in The Bank of New York Mellon Corporation (NYSE:BK)

LBP AM SA lowered its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 54.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,483 shares of the bank's stock after selling 23,617 shares during the quarter. LBP AM SA's holdings in Bank of New York Mellon were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. FMR LLC lifted its position in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares during the last quarter. Norges Bank bought a new position in Bank of New York Mellon during the fourth quarter valued at $1,150,462,000. Ameriprise Financial Inc. lifted its position in Bank of New York Mellon by 0.3% during the fourth quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock valued at $908,281,000 after purchasing an additional 35,413 shares during the last quarter. Northern Trust Corp lifted its position in Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after purchasing an additional 1,526,686 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Bank of New York Mellon by 17.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after purchasing an additional 1,125,493 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 1.7%

BK stock traded up $1.63 during trading on Monday, hitting $95.35. 7,006,185 shares of the company's stock traded hands, compared to its average volume of 4,129,351. The firm has a market capitalization of $68.22 billion, a P/E ratio of 15.53, a PEG ratio of 1.00 and a beta of 1.07. The business has a fifty day simple moving average of $89.60 and a two-hundred day simple moving average of $84.66. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 1 year low of $60.93 and a 1 year high of $95.45.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. Bank of New York Mellon's revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $1.29 earnings per share. Sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon 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 transaction, the executive vice president directly owned 55,115 shares of the company's stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BK has been the topic of several analyst reports. Morgan Stanley upped their price target 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. Evercore ISI raised their price objective on shares of 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. Truist Financial downgraded shares of 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 note on Wednesday, May 28th. 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. Finally, Citigroup raised their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.