The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 48.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,901 shares of the bank's stock after selling 19,771 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Bank of New York Mellon were worth $1,753,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $220,000. Venturi Wealth Management LLC raised its position in shares of Bank of New York Mellon by 42.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,636 shares of the bank's stock worth $126,000 after buying an additional 489 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Bank of New York Mellon by 18.2% during the 4th quarter. Global Retirement Partners LLC now owns 6,408 shares of the bank's stock worth $492,000 after acquiring an additional 985 shares during the last quarter. Private Advisor Group LLC lifted its position in Bank of New York Mellon by 0.9% in the 4th quarter. Private Advisor Group LLC now owns 54,114 shares of the bank's stock worth $4,158,000 after buying an additional 468 shares during the last quarter. Finally, Ieq Capital LLC lifted its stake in Bank of New York Mellon by 12.4% in the fourth quarter. Ieq Capital LLC now owns 33,429 shares of the bank's stock worth $2,568,000 after purchasing an additional 3,696 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

BK stock traded up $1.60 during trading on Tuesday, hitting $91.23. 3,910,752 shares of the company's stock traded hands, compared to its average volume of 4,087,686. The Bank of New York Mellon Corporation has a 52 week low of $58.19 and a 52 week high of $92.64. 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 business has a fifty day simple moving average of $85.74 and a 200 day simple moving average of $83.35. The stock has a market capitalization of $65.27 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 1.00 and a beta of 1.08.

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 for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the company posted $1.29 EPS. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. As a group, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.06%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Evercore ISI lifted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research note on Tuesday, April 1st. Citigroup upped their target price on shares of 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 reiterated a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven investment 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.85.

Insider Activity at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated 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 transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This trade 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 through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction dated 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 now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock worth $7,869,795 over the last three months. 0.14% of the stock is owned by corporate insiders.

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.