Trilogy Capital Inc. Sells 3,747 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Key Points

• Trilogy Capital Inc. reduced its stake in The Bank of New York Mellon by 9.4%, selling 3,747 shares and ending the quarter with a total of 36,258 shares valued at approximately $3.04 million.
• The Bank of New York Mellon has recently raised its quarterly dividend from $0.47 to $0.53 per share, reflecting a yield of 2.12% on an annualized basis.
• Equities analysts have positive outlooks for the bank, with many increasing their price targets, including Wells Fargo raising its target from $96.00 to $100.00, and Morgan Stanley from $95.00 to $101.00.

Trilogy Capital Inc. decreased its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,258 shares of the bank's stock after selling 3,747 shares during the quarter. Trilogy Capital Inc.'s holdings in Bank of New York Mellon were worth $3,041,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BK. FMR LLC lifted its holdings in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares during the last quarter. Norges Bank purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $1,150,462,000. Ameriprise Financial Inc. lifted its holdings in Bank of New York Mellon by 0.3% during the fourth quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock valued at $908,281,000 after purchasing an additional 35,413 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Bank of New York Mellon by 19.1% in the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock worth $732,468,000 after buying an additional 1,526,686 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock worth $595,526,000 after buying an additional 1,125,493 shares in the last quarter. Institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Truist Financial upped their price objective on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Evercore ISI upped their price objective on shares of 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. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $94.38.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares of the company's stock, valued at $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Stock Up 1.0%

Shares of BK traded up $0.99 during trading hours on Friday, hitting $100.96. The company had a trading volume of 4,123,316 shares, compared to its average volume of 4,583,163. The firm has a fifty day moving average price of $91.96 and a 200-day moving average price of $86.05. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.69 and a current ratio of 0.72. The stock has a market capitalization of $72.23 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 0.98 and a beta of 1.07. The Bank of New York Mellon Corporation has a 52-week low of $60.93 and a 52-week high of $101.16.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The business had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm earned $1.51 EPS. Bank of New York Mellon's revenue was up 9.4% on a year-over-year basis. On average, equities research 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.10%. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's dividend payout ratio is presently 28.70%.

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.