The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 53.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,490 shares of the bank's stock after selling 2,833 shares during the period. Insigneo Advisory Services LLC's holdings in Bank of New York Mellon were worth $209,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BK. Opal Wealth Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at about $25,000. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at about $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $28,000. REAP Financial Group LLC increased its position in Bank of New York Mellon by 123.2% during the 4th 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 period. Finally, Transce3nd LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $33,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK stock opened at $91.49 on Friday. The stock's 50 day moving average price is $85.23 and its 200 day moving average price is $83.17. The firm has a market cap of $65.46 billion, a P/E ratio of 14.90, a PEG ratio of 1.02 and a beta of 1.08. 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 Bank of New York Mellon Corporation has a 1 year low of $58.19 and a 1 year high of $92.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The business's revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 earnings per share. On average, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.05%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Insiders Place Their Bets

In other Bank of New York Mellon 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 sale, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon 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 of the company's stock, valued at $1,680,122.50. This trade represents a 20.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last ninety days. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

BK has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and increased their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon 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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