Boston Common Asset Management LLC Acquires 29,133 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Boston Common Asset Management LLC increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 21.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,180 shares of the bank's stock after purchasing an additional 29,133 shares during the period. Boston Common Asset Management LLC's holdings in Bank of New York Mellon were worth $13,938,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BK. Norges Bank bought a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $1,150,462,000. FMR LLC lifted its stake in Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after acquiring an additional 3,732,862 shares in the last quarter. Northern Trust Corp lifted its stake in 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $90,955,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in 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 valued at $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. Institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent analyst reports. 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 research report on Wednesday, April 2nd. Evercore ISI boosted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price target for the stock from $87.00 to $97.00 in a research report on Wednesday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Wall Street Zen lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.08.

Bank of New York Mellon Stock Performance

BK traded down $0.42 during trading on Friday, hitting $88.65. The stock had a trading volume of 6,337,730 shares, compared to its average volume of 4,073,595. The company has a 50 day moving average price of $82.36 and a 200-day moving average price of $82.24. The firm has a market cap of $63.42 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

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, beating the consensus estimate of $1.50 by $0.08. The business 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 12.68% and a net margin of 11.35%. The firm's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. As a group, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a dividend of $0.47 per share. 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 payout ratio is 30.62%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was 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 directly owns 55,115 shares in the company, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction on 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 sale, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.

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.