The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 21.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,525 shares of the bank's stock after selling 12,367 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Bank of New York Mellon were worth $3,902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Analysts LLC grew its holdings in Bank of New York Mellon by 3.7% during the 4th quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock worth $255,000 after acquiring an additional 119 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in Bank of New York Mellon by 12.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock worth $90,000 after acquiring an additional 131 shares in the last quarter. Syon Capital LLC grew its holdings in Bank of New York Mellon by 2.5% during the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock worth $417,000 after acquiring an additional 132 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock worth $2,653,000 after acquiring an additional 133 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Bank of New York Mellon by 1.1% during the 1st quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock worth $1,056,000 after acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.0%

BK stock opened at $91.58 on Friday. The company has a fifty day moving average price of $85.50 and a 200 day moving average price of $83.27. The Bank of New York Mellon Corporation has a 12 month low of $58.19 and a 12 month high of $92.64. The company has a market cap of $65.52 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter last year, the business earned $1.29 EPS. The business's revenue was up 5.9% on a year-over-year basis. Sell-side analysts expect 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. Stockholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend 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 Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction dated 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 now owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares of the company's stock, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,114 shares of company stock worth $7,869,795. Company insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada restated a "sector perform" rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Truist Financial cut shares of 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 report on Wednesday, May 28th. Evercore ISI upped their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Finally, Citigroup upped their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average target price of $91.85.

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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