Strategic Blueprint LLC Buys Shares of 2,780 The Bank of New York Mellon Corporation (NYSE:BK)

Strategic Blueprint LLC bought a new stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,780 shares of the bank's stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $28,000. Finally, REAP Financial Group LLC grew its stake in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their target price for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley boosted their target price on 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. Royal Bank Of Canada reissued a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Citigroup boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $92.08.

Bank of New York Mellon Stock Down 0.6%

Shares of NYSE BK opened at $92.72 on Wednesday. The company has a market capitalization of $66.33 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. 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 business has a 50-day moving average of $88.86 and a two-hundred day moving average of $84.29. The Bank of New York Mellon Corporation has a 1 year low of $59.41 and a 1 year high of $93.79.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly 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. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. Bank of New York Mellon's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.03%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 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 document filed 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 shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president directly owned 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents 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 valued at $7,869,795 in the last three months. 0.14% of the stock is currently owned by company insiders.

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.

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