Blueshift Asset Management LLC trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 49.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,060 shares of the bank's stock after selling 4,948 shares during the quarter. Blueshift Asset Management LLC's holdings in Bank of New York Mellon were worth $424,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC grew its position in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after buying an additional 3,732,862 shares during the period. Northern Trust Corp boosted its stake in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock worth $732,468,000 after acquiring an additional 1,526,686 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock valued at $117,414,000 after acquiring an additional 1,385,434 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $92,502,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Bank of New York Mellon by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,689,477 shares of the bank's stock worth $590,783,000 after purchasing an additional 1,055,389 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.
Bank of New York Mellon Stock Performance
NYSE BK opened at $99.78 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.69 and a current ratio of 0.72. The stock's fifty day moving average is $93.13 and its two-hundred day moving average is $86.84. The firm has a market capitalization of $71.39 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 0.99 and a beta of 1.12. The Bank of New York Mellon Corporation has a fifty-two week low of $60.93 and a fifty-two week high of $103.16.
Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. Bank of New York Mellon's quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.
Bank of New York Mellon Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, July 25th. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's dividend payout ratio is presently 32.37%.
Analyst Upgrades and Downgrades
Several analysts have commented on BK shares. Truist Financial raised their price objective on Bank of New York Mellon from $97.00 to $100.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Evercore ISI increased their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $94.38.
Check Out Our Latest Report on Bank of New York Mellon
Insider Buying and Selling
In related news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.
About Bank of New York Mellon
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Free Report)
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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