Park Avenue Securities LLC Acquires 7,369 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Park Avenue Securities LLC boosted its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 18.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,615 shares of the bank's stock after purchasing an additional 7,369 shares during the quarter. Park Avenue Securities LLC's holdings in Bank of New York Mellon were worth $3,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $220,000. Bleakley Financial Group LLC lifted its position in Bank of New York Mellon by 5.4% during the fourth quarter. Bleakley Financial Group LLC now owns 11,244 shares of the bank's stock valued at $864,000 after purchasing an additional 580 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Bank of New York Mellon by 16.2% in the 4th quarter. Apollon Wealth Management LLC now owns 21,927 shares of the bank's stock worth $1,685,000 after buying an additional 3,059 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Bank of New York Mellon by 743.6% in the 4th quarter. Empowered Funds LLC now owns 116,085 shares of the bank's stock worth $8,919,000 after buying an additional 102,325 shares during the last quarter. Finally, Quotient Wealth Partners LLC raised its position in shares of Bank of New York Mellon by 6.0% during the 4th quarter. Quotient Wealth Partners LLC now owns 3,030 shares of the bank's stock valued at $233,000 after buying an additional 172 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Activity at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated 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 sale, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 55,115 shares of the company's stock, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock worth $7,869,795 in the last 90 days. Company insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

BK has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Citigroup increased their price objective 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. Evercore ISI raised their price objective on 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. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their target price for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $91.85.

Bank of New York Mellon Trading Down 0.1%

Shares of NYSE BK traded down $0.05 during mid-day trading on Tuesday, hitting $89.96. The stock had a trading volume of 2,745,582 shares, compared to its average volume of 4,064,797. The business has a 50 day moving average price of $82.99 and a two-hundred day moving average price of $82.72. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market cap of $64.36 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business 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 11.35% and a return on equity of 12.68%. The company's revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.09%. Bank of New York Mellon's payout ratio is presently 30.62%.

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.