The Bank of New York Mellon Co. (NYSE:BK) Holdings Cut by USS Investment Management Ltd

USS Investment Management Ltd reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 195,709 shares of the bank's stock after selling 21,871 shares during the quarter. USS Investment Management Ltd's holdings in Bank of New York Mellon were worth $15,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth about $25,000. Bellwether Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $28,000. Transce3nd LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $33,000. South Plains Financial Inc. purchased a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $35,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 0.1%

Shares of NYSE BK traded down $0.06 during trading on Monday, reaching $89.12. 2,974,022 shares of the stock were exchanged, compared to its average volume of 4,064,956. The company has a market capitalization of $63.76 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The business's 50-day moving average price is $81.87 and its 200 day moving average price is $81.87. 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 Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.63.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) 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 firm's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction on Monday, April 14th. The shares were 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 directly owns 87,542 shares of the company's stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction 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. This trade represents a 35.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,114 shares of company stock valued at $7,869,795. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BK. Evercore ISI upped their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Citigroup lifted their price objective 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. 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 report on Monday, March 17th. Finally, Truist Financial cut their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average target price of $91.31.

Bank of New York Mellon 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.