Penserra Capital Management LLC Raises Position in The Bank of New York Mellon Corporation (NYSE:BK)

Penserra Capital Management LLC increased its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 141.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,655 shares of the bank's stock after purchasing an additional 7,403 shares during the quarter. Penserra Capital Management LLC's holdings in Bank of New York Mellon were worth $1,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after buying an additional 3,732,862 shares in the last quarter. Norges Bank bought a new position in Bank of New York Mellon during the 4th quarter valued at approximately $1,150,462,000. Ameriprise Financial Inc. increased its position in Bank of New York Mellon by 0.3% during the 4th quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock valued at $908,281,000 after buying an additional 35,413 shares in the last quarter. Northern Trust Corp increased its position in Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after buying an additional 1,526,686 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after buying an additional 1,125,493 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider owned 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president owned 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Up 0.0%

NYSE:BK traded up $0.04 during midday trading on Friday, hitting $93.70. The stock had a trading volume of 4,276,885 shares, compared to its average volume of 4,271,808. The Bank of New York Mellon Corporation has a one year low of $60.93 and a one year high of $93.93. The company has a market capitalization of $67.04 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.04 and a beta of 1.07. The stock has a 50-day moving average of $89.37 and a 200 day moving average of $84.46. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results 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 business had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. As a group, sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.01%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Evercore ISI lifted their target price 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. Morgan Stanley lifted their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Finally, Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price target for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.