QRG Capital Management Inc. Has $32.39 Million Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

QRG Capital Management Inc. grew its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 386,154 shares of the bank's stock after buying an additional 47,112 shares during the period. QRG Capital Management Inc. owned about 0.05% of Bank of New York Mellon worth $32,387,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BK. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $220,000. Blue Trust Inc. lifted its holdings in shares of Bank of New York Mellon by 12.3% in the 4th quarter. Blue Trust Inc. now owns 1,879 shares of the bank's stock worth $144,000 after purchasing an additional 206 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock worth $695,000 after purchasing an additional 139 shares during the last quarter. PUREfi Wealth LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $247,000. Finally, Principal Securities Inc. lifted its holdings in shares of Bank of New York Mellon by 12.7% in the 4th quarter. Principal Securities Inc. now owns 28,301 shares of the bank's stock worth $2,174,000 after purchasing an additional 3,191 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BK shares. Morgan Stanley raised their price target 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. Citigroup raised their price target 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 raised their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Wells Fargo & Company raised their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Finally, Wall Street Zen downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $91.85.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.74 on Tuesday, hitting $89.75. The company's stock had a trading volume of 3,622,102 shares, compared to its average volume of 4,076,031. The company has a market capitalization of $64.21 billion, a PE ratio of 14.62, a PEG ratio of 1.03 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The Bank of New York Mellon Corporation has a fifty-two week low of $57.79 and a fifty-two week high of $90.63. The company has a 50 day moving average price of $84.48 and a 200 day moving average price of $83.00.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the business earned $1.29 EPS. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction 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 owns 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. Insiders have sold a total of 101,114 shares of company stock valued at $7,869,795 in the last 90 days. 0.14% of the stock is owned by company 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.