Matrix Asset Advisors Inc. NY Has $33.74 Million Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Matrix Asset Advisors Inc. NY trimmed its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 17.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 402,272 shares of the bank's stock after selling 87,016 shares during the period. Bank of New York Mellon comprises 3.7% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 4th largest position. Matrix Asset Advisors Inc. NY owned approximately 0.06% of Bank of New York Mellon worth $33,739,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BK. Parvin Asset Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in Bank of New York Mellon in the first quarter valued at approximately $25,000. Bellwether Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $28,000. REAP Financial Group LLC increased its position in shares of Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after purchasing an additional 218 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $33,000. Institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In related 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 sale, the executive vice president now owns 55,115 shares of the company's stock, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The sale 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 firm's 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 transaction, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock valued at $7,869,795 in the last quarter. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Morgan Stanley lifted 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 report on Tuesday, June 3rd. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Truist Financial cut shares of 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 report on Wednesday, May 28th. Finally, Royal Bank Of Canada reiterated 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. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded down $1.23 during trading hours on Wednesday, hitting $89.97. The company had a trading volume of 4,496,315 shares, compared to its average volume of 4,097,402. The firm has a 50-day moving average of $86.01 and a 200 day moving average of $83.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $64.37 billion, a PE ratio of 14.65, a PEG ratio of 1.02 and a beta of 1.08. The Bank of New York Mellon Corporation has a one year low of $58.19 and a one year high of $92.64.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share 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 paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.09%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

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.