Twinbeech Capital LP Cuts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Twinbeech Capital LP lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 95.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,374 shares of the bank's stock after selling 102,240 shares during the quarter. Twinbeech Capital LP's holdings in Bank of New York Mellon were worth $413,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BK. Norges Bank bought a new position in Bank of New York Mellon in the 4th quarter valued at $1,150,462,000. FMR LLC grew its position 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 valued at $1,772,590,000 after acquiring an additional 3,732,862 shares during the last quarter. Northern Trust Corp grew its position in Bank of New York Mellon by 19.1% in the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares during the last quarter. Raymond James Financial Inc. bought a new position in Bank of New York Mellon in the 4th quarter valued at $90,955,000. Finally, Arrowstreet Capital Limited Partnership grew its position 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 valued at $595,526,000 after acquiring an additional 1,125,493 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This trade 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 through the SEC website. 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 transaction, the executive vice president now owns 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This represents a 35.25% 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 worth $7,869,795. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BK. Royal Bank of Canada reiterated 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. Evercore ISI upped their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Citigroup upped their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Wells Fargo & Company upped their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Finally, Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and set a $97.00 target price for the company. in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $92.08.

Bank of New York Mellon Stock Down 1.3%

Bank of New York Mellon stock traded down $1.14 during midday trading on Wednesday, reaching $89.09. The company's stock had a trading volume of 696,054 shares, compared to its average volume of 4,050,702. The stock's 50-day simple moving average is $82.10 and its 200-day simple moving average is $82.01. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $91.17. The stock has a market capitalization of $63.74 billion, a P/E ratio of 15.33, a PEG ratio of 0.97 and a beta of 1.05.

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 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 12.68% and a net margin of 11.35%. The company had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same period last year, the business posted $1.29 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Bank of New York Mellon 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.