World Investment Advisors Grows Stock Position in The Bank of New York Mellon Corporation (NYSE:BK)

World Investment Advisors increased its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 8.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,254 shares of the bank's stock after purchasing an additional 3,421 shares during the quarter. World Investment Advisors' holdings in Bank of New York Mellon were worth $3,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon in the first quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new position in shares of Bank of New York Mellon in the first quarter valued at about $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $28,000. Finally, REAP Financial Group LLC increased its holdings in shares of Bank of New York Mellon by 123.2% in the fourth 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. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.57 during mid-day trading on Thursday, hitting $93.62. The stock had a trading volume of 4,161,667 shares, compared to its average volume of 4,132,343. 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 company has a 50 day moving average of $89.11 and a two-hundred day moving average of $84.35. The Bank of New York Mellon Corporation has a twelve month low of $60.02 and a twelve month high of $94.17. The firm has a market cap of $66.98 billion, a PE ratio of 15.25, a PEG ratio of 1.03 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its 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. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the firm earned $1.29 EPS. The firm's revenue was up 5.9% on a year-over-year basis. Research analysts predict 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 business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insiders Place Their Bets

In other news, 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 transaction of $437,177.50. Following the sale, the insider directly owned 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president owned 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 disclosure for this sale can be found here. In the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BK. Royal Bank Of Canada reissued a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Evercore ISI boosted 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 research note on Wednesday, July 2nd. Morgan Stanley upped their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Citigroup upped their target price on 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. Finally, Truist Financial cut 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 research note on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.08.

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.