Nilsine Partners LLC Boosts Position in The Bank of New York Mellon Corporation (NYSE:BK)

Nilsine Partners LLC increased its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 23.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,834 shares of the bank's stock after buying an additional 2,781 shares during the period. Nilsine Partners LLC's holdings in Bank of New York Mellon were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BK. Parvin Asset Management LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in Bank of New York Mellon during the 1st quarter valued at about $25,000. Bellwether Advisors LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $28,000. REAP Financial Group LLC increased its position in Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after purchasing an additional 218 shares during the period. Finally, Transce3nd LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.0%

BK stock opened at $91.58 on Friday. The firm has a 50 day moving average of $85.50 and a 200 day moving average of $83.27. The stock has a market capitalization of $65.52 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. 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 52 week low of $58.19 and a 52 week high of $92.64.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid 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 payout ratio is 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon 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 shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. The trade was a 20.65% 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 worth $7,869,795. Company insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BK. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their target price for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Morgan Stanley raised 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 target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Finally, Citigroup raised their price target on shares of 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. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average target price of $91.85.

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.

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