Siemens Fonds Invest GmbH Cuts Stake in The Bank of New York Mellon Co. (NYSE:BK)

Siemens Fonds Invest GmbH trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,392 shares of the bank's stock after selling 3,976 shares during the period. Siemens Fonds Invest GmbH's holdings in Bank of New York Mellon were worth $337,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BK. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $28,000. REAP Financial Group LLC increased its position in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after acquiring an additional 218 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $33,000. Finally, South Plains Financial Inc. acquired a new position in Bank of New York Mellon in the fourth quarter worth about $34,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction dated 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the company'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 completion of the transaction, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Down 0.5%

NYSE BK traded down $0.42 on Friday, hitting $88.65. The company's stock had a trading volume of 6,337,730 shares, compared to its average volume of 4,073,595. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.63. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company's 50-day moving average is $82.36 and its 200 day moving average is $82.20. The firm has a market cap of $63.42 billion, a PE ratio of 15.26, a PEG ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business's revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.12%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research reports. 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 research note on Monday, March 24th. Wells Fargo & Company lifted 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. Morgan Stanley lowered their price target on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Truist Financial cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price target for the stock from $87.00 to $97.00 in a report on Wednesday. Finally, Wall Street Zen downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $92.08.

About Bank of New York Mellon

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.