The Bank of New York Mellon Corporation (NYSE:BK) Stock Holdings Lessened by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd cut its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 82.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,000 shares of the bank's stock after selling 59,400 shares during the period. Bank of New York Mellon comprises about 0.6% of BOCHK Asset Management Ltd's investment portfolio, making the stock its 16th biggest holding. BOCHK Asset Management Ltd's holdings in Bank of New York Mellon were worth $1,090,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon in the first quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in Bank of New York Mellon in the first quarter worth $25,000. Parvin Asset Management LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $25,000. Bellwether Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $28,000. Finally, REAP Financial Group LLC raised its stake in Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after acquiring an additional 218 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on 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. The trade was a 35.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president owned 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Price Performance

BK stock traded up $0.57 on Thursday, hitting $93.62. 4,161,688 shares of the company's stock traded hands, compared to its average volume of 4,134,335. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The stock has a market cap of $66.98 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.03 and a beta of 1.07. The Bank of New York Mellon Corporation has a 1-year low of $60.02 and a 1-year high of $94.17. The stock has a fifty day moving average of $89.11 and a 200-day moving average of $84.35.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company's quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis 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 presently 30.62%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Morgan Stanley raised their price target on shares of 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. 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 report on Wednesday, July 2nd. Finally, 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 research report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $92.08.

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.