Signature Wealth Management Group Sells 10,557 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Signature Wealth Management Group trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 17.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,126 shares of the bank's stock after selling 10,557 shares during the period. Bank of New York Mellon comprises about 1.6% of Signature Wealth Management Group's investment portfolio, making the stock its 25th largest position. Signature Wealth Management Group's holdings in Bank of New York Mellon were worth $4,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of BK. Opal Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon during the first quarter valued at $25,000. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $25,000. Bellwether Advisors LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $28,000. REAP Financial Group LLC lifted its stake in Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after buying an additional 218 shares during the period. Finally, Transce3nd LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded up $1.86 during trading on Monday, hitting $90.46. 3,941,378 shares of the company were exchanged, compared to its average volume of 4,073,785. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.63. The company has a market cap of $64.72 billion, a PE ratio of 15.57, a P/E/G ratio of 0.97 and a beta of 1.08. The stock has a 50 day moving average of $84.13 and a 200 day moving average of $82.94.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the prior year, the business earned $1.29 EPS. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities 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 Announces Dividend

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 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The stock was 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 owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Citigroup increased their price target on 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. Wall Street Zen downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their price target for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus price target 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.