Trinity Financial Advisors LLC Buys 6,977 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Trinity Financial Advisors LLC boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 217.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,188 shares of the bank's stock after buying an additional 6,977 shares during the period. Trinity Financial Advisors LLC's holdings in Bank of New York Mellon were worth $854,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BK. FMR LLC raised its holdings in Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after acquiring an additional 3,732,862 shares during the last quarter. Norges Bank bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $1,150,462,000. Ameriprise Financial Inc. lifted its holdings in shares of 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 in the last quarter. Northern Trust Corp boosted its position in shares of Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after buying an additional 1,526,686 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Bank of New York Mellon by 17.0% in the 4th 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. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $2,370,900.00. Following the sale, the executive vice president now directly owns 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Performance

BK traded down $1.21 during midday trading on Friday, reaching $88.50. The company had a trading volume of 3,527,284 shares, compared to its average volume of 4,061,629. The business has a 50-day moving average of $83.83 and a two-hundred day moving average of $82.87. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63. The company has a market cap of $63.32 billion, a P/E ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results 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 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the firm posted $1.29 EPS. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid 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 2.12%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BK. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Wall Street Zen cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Truist Financial cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their target price for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. Citigroup lifted their target price on shares of 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. Finally, Morgan Stanley increased their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.85.

Bank of New York Mellon Company 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.