The Bank of New York Mellon Corporation (NYSE:BK) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 871,686 shares of the bank's stock after buying an additional 11,866 shares during the period. Principal Financial Group Inc. owned about 0.12% of Bank of New York Mellon worth $73,108,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Capital Analysts LLC lifted its position in Bank of New York Mellon by 3.7% in the 4th quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock valued at $255,000 after purchasing an additional 119 shares during the last quarter. Syon Capital LLC lifted its position in Bank of New York Mellon by 2.5% in the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC lifted its position in Bank of New York Mellon by 1.1% in the 1st quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock valued at $1,056,000 after purchasing an additional 139 shares during the last quarter. Valmark Advisers Inc. lifted its position in Bank of New York Mellon by 1.1% in the 1st quarter. Valmark Advisers Inc. now owns 12,821 shares of the bank's stock valued at $1,075,000 after purchasing an additional 142 shares during the last quarter. Finally, NBT Bank N A NY raised its position in shares of Bank of New York Mellon by 1.5% during the 4th quarter. NBT Bank N A NY now owns 10,515 shares of the bank's stock worth $808,000 after buying an additional 155 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK opened at $91.93 on Friday. The company's 50 day moving average price is $88.32 and its 200 day moving average price is $84.07. The Bank of New York Mellon Corporation has a 52 week low of $59.19 and a 52 week high of $92.85. The company has a market capitalization of $65.77 billion, a PE ratio of 14.97, a PEG ratio of 1.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current 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, beating analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company's revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 earnings per share. 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 Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the business'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 completion of the sale, the insider directly owned 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the business'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 owned 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79% 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 ninety days. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on BK shares. Royal Bank Of Canada restated a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Citigroup boosted their price target on shares of 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. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price target for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Finally, Evercore ISI boosted their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.08.

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.

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