Rhumbline Advisers Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Rhumbline Advisers reduced its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,424,338 shares of the bank's stock after selling 99,956 shares during the period. Rhumbline Advisers owned 0.20% of Bank of New York Mellon worth $119,459,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its holdings in Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock valued at $60,426,000 after purchasing an additional 82,671 shares during the last quarter. Natixis Advisors LLC lifted its stake in Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock worth $21,971,000 after purchasing an additional 17,457 shares during the last quarter. NEOS Investment Management LLC grew its position in Bank of New York Mellon by 31.6% during the fourth quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank's stock valued at $3,584,000 after acquiring an additional 11,200 shares during the last quarter. Realta Investment Advisors purchased a new position in Bank of New York Mellon in the 4th quarter worth $474,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Bank of New York Mellon by 9.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,792 shares of the bank's stock valued at $6,361,000 after acquiring an additional 7,029 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BK has been the subject of a number of research analyst reports. Wall Street Zen lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Truist Financial downgraded shares of 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. Morgan Stanley increased their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company increased their price target on 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, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $91.85.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock worth $7,869,795 over the last three months. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Up 0.5%

Shares of NYSE BK traded up $0.41 during midday trading on Thursday, reaching $88.74. 796,175 shares of the company's stock were exchanged, compared to its average volume of 4,062,906. The business's fifty day moving average price is $82.65 and its two-hundred day moving average price is $82.43. The stock has a market capitalization of $63.49 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week 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.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the business posted $1.29 EPS. Bank of New York Mellon's revenue was up 5.9% on a year-over-year basis. Analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors 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 2.12%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is 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.