The Bank of New York Mellon Corporation (NYSE:BK) Stake Reduced by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,906,388 shares of the bank's stock after selling 15,044 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.27% of Bank of New York Mellon worth $159,889,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Revolve Wealth Partners LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $220,000. Sigma Planning Corp grew its holdings in Bank of New York Mellon by 7.2% in the 4th quarter. Sigma Planning Corp now owns 5,862 shares of the bank's stock valued at $450,000 after buying an additional 392 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $1,246,000. IFP Advisors Inc lifted its holdings in shares of Bank of New York Mellon by 42.4% during the 4th quarter. IFP Advisors Inc now owns 5,196 shares of the bank's stock worth $399,000 after acquiring an additional 1,547 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of Bank of New York Mellon by 1,375.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 252,292 shares of the bank's stock worth $19,384,000 after acquiring an additional 235,190 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.1%

Bank of New York Mellon stock traded up $0.11 during midday trading on Thursday, hitting $90.11. 4,527,836 shares of the company were exchanged, compared to its average volume of 4,099,117. The company has a market cap of $64.46 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The Bank of New York Mellon Corporation has a fifty-two week low of $58.19 and a fifty-two week high of $92.64. The company's fifty day moving average price is $86.30 and its 200-day moving average price is $83.45. 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 posted its quarterly earnings data 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 11.78% and a return on equity of 12.96%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The business's quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a dividend of $0.47 per share. 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 payout ratio is 30.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BK shares. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Evercore ISI increased their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Wells Fargo & Company upped 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 research note on Monday, March 3rd. Finally, Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.85.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon 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 approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by corporate insiders.

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.