Bank of New York Mellon Corp Has $337.95 Million Stock Position in The Bank of New York Mellon Corporation (NYSE:BK)

Bank of New York Mellon Corp decreased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,029,419 shares of the bank's stock after selling 147,979 shares during the quarter. Bank of New York Mellon Corp owned about 0.56% of Bank of New York Mellon worth $337,947,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon in the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in Bank of New York Mellon during the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Bank of New York Mellon during the first quarter worth approximately $25,000. Bellwether Advisors LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $28,000. Finally, REAP Financial Group LLC increased its stake in 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 buying an additional 218 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BK has been the topic of several research analyst reports. Citigroup boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Evercore ISI increased their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Morgan Stanley increased 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, June 3rd. Finally, Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their price objective for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.08.

Bank of New York Mellon Stock Performance

Shares of BK traded down $0.53 during mid-day trading on Tuesday, hitting $92.72. The company's stock had a trading volume of 4,318,704 shares, compared to its average volume of 4,131,129. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The Bank of New York Mellon Corporation has a one year low of $59.19 and a one year high of $94.03. The stock's 50-day moving average is $88.61 and its two-hundred day moving average is $84.23. The firm has a market capitalization of $66.33 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion for 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 quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 earnings per share. As a group, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.03%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider owned 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 55,115 shares of the company's stock, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock valued at $7,869,795 in the last quarter. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon 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.