Alpha Omega Wealth Management LLC Sells 8,548 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Alpha Omega Wealth Management LLC lowered its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 15.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,207 shares of the bank's stock after selling 8,548 shares during the quarter. Alpha Omega Wealth Management LLC's holdings in Bank of New York Mellon were worth $3,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $28,000. REAP Financial Group LLC boosted its stake in shares of Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after purchasing an additional 218 shares in the last quarter. Transce3nd LLC bought a new stake in Bank of New York Mellon during the 4th quarter worth $33,000. Finally, South Plains Financial Inc. acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $34,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their price target for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. Wall Street Zen lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company boosted their price target on shares of 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $91.85.

Bank of New York Mellon Price Performance

BK traded down $0.14 during trading on Thursday, reaching $89.42. 1,314,643 shares of the company were exchanged, compared to its average volume of 4,053,586. 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 market cap of $63.97 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.97 and a beta of 1.08. 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 company's 50-day moving average is $83.52 and its two-hundred day moving average is $82.81.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. Bank of New York Mellon's revenue was up 5.9% on a year-over-year basis. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Insiders Place Their Bets

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the business's 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 completion of the sale, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $5,061,717.63. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 in the last ninety days. 0.14% of the stock is currently owned by 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.