The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Stephens Inc. AR

Stephens Inc. AR cut its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 65.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,688 shares of the bank's stock after selling 59,444 shares during the period. Stephens Inc. AR's holdings in Bank of New York Mellon were worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in Bank of New York Mellon by 2.1% during the 1st quarter. Arizona State Retirement System now owns 216,132 shares of the bank's stock worth $18,127,000 after purchasing an additional 4,444 shares in the last quarter. Realta Investment Advisors increased its holdings in Bank of New York Mellon by 15.2% during the 1st quarter. Realta Investment Advisors now owns 7,101 shares of the bank's stock worth $596,000 after purchasing an additional 936 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in Bank of New York Mellon by 2.8% during the 1st quarter. Kathmere Capital Management LLC now owns 8,684 shares of the bank's stock worth $728,000 after purchasing an additional 237 shares in the last quarter. WealthTrust Asset Management LLC increased its holdings in Bank of New York Mellon by 2.1% during the 1st quarter. WealthTrust Asset Management LLC now owns 13,962 shares of the bank's stock worth $1,171,000 after purchasing an additional 289 shares in the last quarter. Finally, Park Square Financial Group LLC increased its holdings in Bank of New York Mellon by 8.3% during the 1st quarter. Park Square Financial Group LLC now owns 2,222 shares of the bank's stock worth $186,000 after purchasing an additional 171 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president directly owned 55,115 shares in the company, valued at $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 SEC, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on BK. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a report on Wednesday. Truist Financial upped their price target on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Evercore ISI upped their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Seven investment 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $94.38.

Bank of New York Mellon Stock Performance

Shares of BK stock traded up $2.61 during mid-day trading on Thursday, hitting $98.10. The stock had a trading volume of 3,260,885 shares, compared to its average volume of 4,136,921. 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 $60.93 and a fifty-two week high of $98.11. The company's 50-day simple moving average is $90.33 and its 200-day simple moving average is $84.93. The firm has a market cap of $70.18 billion, a PE ratio of 14.97, a PEG ratio of 1.03 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.57%. The firm had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter last year, the business earned $1.51 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Shareholders of record on Friday, July 25th will be issued a dividend of $0.53 per share. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, July 25th. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

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.