The Bank of New York Mellon Corporation (NYSE:BK) Position Trimmed by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 21.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 198,977 shares of the bank's stock after selling 53,315 shares during the period. Los Angeles Capital Management LLC's holdings in Bank of New York Mellon were worth $16,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Parvin Asset Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Bank of New York Mellon during the first quarter worth $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon during the first quarter worth $25,000. Bellwether Advisors LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $28,000. Finally, REAP Financial Group LLC lifted its stake in Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on BK. Truist Financial raised their price objective on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Evercore ISI upped 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, July 2nd. Finally, Wells Fargo & Company upped their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $94.38.

Bank of New York Mellon Trading Up 0.4%

Shares of Bank of New York Mellon stock traded up $0.44 during trading hours on Tuesday, hitting $99.04. The company's stock had a trading volume of 3,237,397 shares, compared to its average volume of 4,126,692. The business has a fifty day moving average of $90.84 and a 200 day moving average of $85.34. The company has a market capitalization of $70.85 billion, a PE ratio of 15.12, a P/E/G ratio of 0.97 and a beta of 1.07. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a 1-year low of $60.93 and a 1-year high of $99.42.

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

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.53 per share. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date is Friday, July 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.14%. Bank of New York Mellon's payout ratio is 32.37%.

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.