The Bank of New York Mellon Corporation (NYSE:BK) is Matrix Asset Advisors Inc. NY's 4th Largest Position

Matrix Asset Advisors Inc. NY reduced its stake 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 13F 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 quarter. Bank of New York Mellon comprises approximately 3.7% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 4th largest position. Matrix Asset Advisors Inc. NY owned 0.06% of Bank of New York Mellon worth $33,739,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BK. Parvin Asset Management LLC bought a new position in Bank of New York Mellon during the 4th quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in Bank of New York Mellon during the 1st quarter worth $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon during the 4th quarter worth $28,000. REAP Financial Group LLC grew its stake in 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 buying an additional 218 shares during the last quarter. Finally, Transce3nd LLC bought a new position in Bank of New York Mellon during the 4th quarter worth $33,000. 85.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction on Monday, April 14th. The stock was 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 represents a 42.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now directly owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. 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 over the last three months. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. 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 research note on Monday, March 24th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. Truist Financial cut 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 research note on Wednesday, May 28th. Morgan Stanley increased their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Finally, Evercore ISI increased their price target on 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.85.

Bank of New York Mellon Price Performance

BK stock traded down $0.02 during trading hours on Friday, hitting $91.58. 6,110,596 shares of the stock traded hands, compared to its average volume of 4,062,661. The stock has a 50-day simple moving average of $85.50 and a 200 day simple moving average of $83.28. The Bank of New York Mellon Corporation has a one year low of $58.19 and a one year high of $92.64. The company has a market cap of $65.52 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.02 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share 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 business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company's quarterly revenue was up 5.9% on a year-over-year basis. Equities analysts forecast 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 company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.05%. Bank of New York Mellon's dividend payout ratio is currently 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.