The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 9,538.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,399,958 shares of the bank's stock after acquiring an additional 1,385,434 shares during the period. GAMMA Investing LLC owned approximately 0.19% of Bank of New York Mellon worth $117,414,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BK. Blue Trust Inc. raised its stake in shares of Bank of New York Mellon by 57.6% in the fourth quarter. Blue Trust Inc. now owns 2,637 shares of the bank's stock valued at $189,000 after acquiring an additional 964 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $220,000. Mediolanum International Funds Ltd acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $1,221,000. Austin Private Wealth LLC raised its stake in Bank of New York Mellon by 7.0% in the fourth quarter. Austin Private Wealth LLC now owns 3,656 shares of the bank's stock valued at $281,000 after buying an additional 239 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its stake in Bank of New York Mellon by 100.6% in the fourth quarter. Waldron Private Wealth LLC now owns 12,940 shares of the bank's stock valued at $994,000 after buying an additional 6,490 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.34 during midday trading on Thursday, reaching $88.67. 662,480 shares of the company were exchanged, compared to its average volume of 4,062,404. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63. The stock has a fifty day simple moving average of $82.65 and a 200 day simple moving average of $82.43. The stock has a market cap of $63.44 billion, a P/E 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 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. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the company posted $1.29 earnings per share. The business's revenue was up 5.9% on a year-over-year basis. On average, research analysts forecast 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Analysts Set New Price Targets

A number of analysts have weighed in on BK shares. Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price target for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Wall Street Zen cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Morgan Stanley raised their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Wells Fargo & Company raised their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.85.

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.