Secured Retirement Advisors LLC Purchases New Shares in The Bank of New York Mellon Corporation (NYSE:BK)

Secured Retirement Advisors LLC acquired a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,590 shares of the bank's stock, valued at approximately $1,391,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its stake in shares of Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Norges Bank bought a new stake in Bank of New York Mellon during the 4th quarter valued at $1,150,462,000. Ameriprise Financial Inc. boosted 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 acquiring an additional 35,413 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Bank of New York Mellon by 19.1% in the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Bank of New York Mellon by 17.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock worth $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.04 during midday trading on Friday, reaching $93.70. The company had a trading volume of 4,276,886 shares, compared to its average volume of 4,117,795. The stock has a market cap of $67.04 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.00 and a beta of 1.07. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 1 year low of $60.93 and a 1 year high of $93.93. The business's 50-day simple moving average is $89.60 and its 200 day simple moving average is $84.61.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the business posted $1.29 EPS. The firm's quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts forecast 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors 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 dividend on an annualized basis and a yield of 2.01%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president directly owned 87,542 shares of the company's stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 transaction, the executive vice president owned 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price objective for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Citigroup increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada reiterated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Morgan Stanley increased their target price on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.