Diversified Trust Co Sells 8,009 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Diversified Trust Co decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 16.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,199 shares of the bank's stock after selling 8,009 shares during the quarter. Diversified Trust Co's holdings in Bank of New York Mellon were worth $3,539,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Parvin Asset Management LLC purchased a new stake in Bank of New York Mellon in the fourth quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 1st quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new position in shares of Bank of New York Mellon during the 1st quarter valued at about $25,000. Bellwether Advisors LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $28,000. Finally, REAP Financial Group LLC grew its stake in shares of 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 valued at $30,000 after acquiring an additional 218 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $1.24 during trading hours on Friday, hitting $91.28. The stock had a trading volume of 6,279,061 shares, compared to its average volume of 4,107,104. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $65.31 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.01 and a beta of 1.08. The Bank of New York Mellon Corporation has a one year low of $59.00 and a one year high of $92.64. The stock's 50-day moving average price is $86.58 and its two-hundred day moving average price is $83.51.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. Equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now directly owns 55,115 shares of the company's stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock valued at $7,869,795 over the last 90 days. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on BK. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and lifted their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. 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 note 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 stock an "overweight" rating in a report on Tuesday, June 3rd. Citigroup raised their price target on 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. Finally, Evercore ISI boosted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.85.

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.