Xponance Inc. Sells 6,455 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Xponance Inc. decreased its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,795 shares of the bank's stock after selling 6,455 shares during the period. Xponance Inc.'s holdings in Bank of New York Mellon were worth $9,879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in shares of Bank of New York Mellon during the first quarter valued at $25,000. Alpine Bank Wealth Management bought a new position in shares of Bank of New York Mellon during the first quarter valued at $25,000. Bellwether Advisors LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $28,000. Finally, REAP Financial Group LLC lifted its holdings in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after acquiring an additional 218 shares during the period. 85.31% of the stock is owned by institutional investors.

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 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 sale, the insider owned 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of the business's 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 owned 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,114 shares of company stock worth $7,869,795. Corporate insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BK. 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 research note on Monday, March 17th. Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley raised their target price on 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. Evercore ISI raised their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Finally, Citigroup lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.08.

Bank of New York Mellon Trading Up 0.0%

Shares of Bank of New York Mellon stock traded up $0.04 during trading on Friday, hitting $93.70. 4,276,886 shares of the company were exchanged, compared to its average volume of 4,138,902. The firm has a market capitalization of $67.04 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.00 and a beta of 1.07. The Bank of New York Mellon Corporation has a 1-year low of $60.93 and a 1-year high of $93.93. The firm's fifty day moving average price is $89.60 and its 200 day moving average price is $84.57. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69.

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 (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 EPS. As a group, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's payout ratio is 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.