The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 111.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,585 shares of the bank's stock after buying an additional 13,503 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Bank of New York Mellon were worth $2,146,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BK. O Shaughnessy Asset Management LLC raised its stake in shares of Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock valued at $60,426,000 after acquiring an additional 82,671 shares during the period. Natixis Advisors LLC grew its holdings in Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after purchasing an additional 17,457 shares during the last quarter. NEOS Investment Management LLC raised its position in Bank of New York Mellon by 31.6% in the 4th quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank's stock worth $3,584,000 after purchasing an additional 11,200 shares during the period. Realta Investment Advisors bought a new stake in Bank of New York Mellon in the fourth quarter worth about $474,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Bank of New York Mellon by 9.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,792 shares of the bank's stock worth $6,361,000 after purchasing an additional 7,029 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the business'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 in the company, valued at $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BK shares. Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley upped their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday. Wall Street Zen lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. 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 upped their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.85.

Bank of New York Mellon Stock Performance

Shares of BK stock traded up $1.75 during mid-day trading on Friday, hitting $90.33. 2,263,342 shares of the stock were exchanged, compared to its average volume of 4,072,191. The Bank of New York Mellon Co. has a 12-month low of $57.18 and a 12-month high of $90.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market capitalization of $64.63 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.97 and a beta of 1.05. The stock's fifty day simple moving average is $82.74 and its two-hundred day simple moving average is $82.50.

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. 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 return on equity of 12.68% and a net margin of 11.35%. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. On average, analysts forecast 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 firm 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 of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Bank of New York Mellon Company 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.