Pinkerton Retirement Specialists LLC Sells 5,708 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Pinkerton Retirement Specialists LLC lessened its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,233 shares of the bank's stock after selling 5,708 shares during the quarter. Pinkerton Retirement Specialists LLC's holdings in Bank of New York Mellon were worth $4,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Bank of New York Mellon by 27.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 10,253 shares of the bank's stock valued at $860,000 after buying an additional 2,186 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Bank of New York Mellon by 12.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,079 shares of the bank's stock valued at $258,000 after buying an additional 346 shares during the last quarter. Dakota Wealth Management lifted its position in shares of Bank of New York Mellon by 9.8% during the 1st quarter. Dakota Wealth Management now owns 191,685 shares of the bank's stock valued at $16,077,000 after buying an additional 17,048 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Bank of New York Mellon by 44.2% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 4,186 shares of the bank's stock valued at $351,000 after buying an additional 1,284 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Bank of New York Mellon by 21.2% during the 1st quarter. Apollon Wealth Management LLC now owns 26,570 shares of the bank's stock valued at $2,228,000 after buying an additional 4,643 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded up $0.27 on Wednesday, hitting $95.43. The company's stock had a trading volume of 5,438,118 shares, compared to its average volume of 4,139,836. The company has a 50-day simple moving average of $90.33 and a 200 day simple moving average of $84.93. The Bank of New York Mellon Corporation has a 1 year low of $60.93 and a 1 year high of $96.47. The company has a market capitalization of $68.27 billion, a PE ratio of 14.57, a PEG ratio of 1.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.57% and a net margin of 12.27%. The firm had revenue of $4.77 billion for the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter last year, the firm posted $1.51 EPS. The company's revenue was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Friday, July 25th will be issued a $0.53 dividend. The ex-dividend date is Friday, July 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.22%. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Analysts Set New Price Targets

A number of research analysts have recently commented on BK shares. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a research report on Wednesday. Citigroup increased their price objective 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 increased their price objective 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. Wells Fargo & Company increased their price objective 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. Finally, Truist Financial increased their price objective on Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $94.38.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 55,115 shares of the company's stock, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

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.