Miller Howard Investments Inc. NY Cuts Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Miller Howard Investments Inc. NY reduced its stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 25.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 788,144 shares of the bank's stock after selling 267,200 shares during the period. Bank of New York Mellon accounts for 2.1% of Miller Howard Investments Inc. NY's portfolio, making the stock its 11th largest position. Miller Howard Investments Inc. NY owned approximately 0.11% of Bank of New York Mellon worth $66,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Aaron Wealth Advisors LLC increased its stake in shares of Bank of New York Mellon by 5.9% during the first quarter. Aaron Wealth Advisors LLC now owns 9,209 shares of the bank's stock valued at $772,000 after purchasing an additional 515 shares in the last quarter. Oregon Pacific Wealth Management LLC increased its position in shares of Bank of New York Mellon by 10.2% during the first quarter. Oregon Pacific Wealth Management LLC now owns 3,143 shares of the bank's stock valued at $264,000 after acquiring an additional 292 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Bank of New York Mellon by 121.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank's stock valued at $15,399,000 after acquiring an additional 100,810 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Bank of New York Mellon by 135.8% during the first quarter. Vontobel Holding Ltd. now owns 48,486 shares of the bank's stock valued at $4,067,000 after acquiring an additional 27,921 shares in the last quarter. Finally, Alta Advisers Ltd bought a new stake in shares of Bank of New York Mellon during the first quarter valued at approximately $287,000. 85.31% of the stock is owned by institutional investors.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the company'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 transaction, the executive vice president directly owned 55,115 shares in the company, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company'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 transaction, the insider owned 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,114 shares of company stock valued at $7,869,795. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BK shares. 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. Citigroup raised their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Evercore ISI raised their price objective on shares of 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. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price objective for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Finally, 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 note on Tuesday, June 3rd. Seven research 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 target price of $92.08.

Bank of New York Mellon Stock Down 0.2%

Shares of NYSE:BK traded down $0.16 during trading on Friday, hitting $91.93. The company's stock had a trading volume of 2,408,224 shares, compared to its average volume of 4,121,885. The business has a 50 day moving average price of $88.32 and a two-hundred day moving average price of $84.01. The company has a market capitalization of $65.77 billion, a PE ratio of 14.97, a P/E/G 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. The Bank of New York Mellon Corporation has a fifty-two week low of $59.19 and a fifty-two week high of $92.85.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (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 business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the previous year, the company earned $1.29 EPS. The company's revenue for the quarter was up 5.9% on a year-over-year basis. As a group, 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 Dividend Announcement

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

About Bank of New York Mellon

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.