United Advisor Group LLC Sells 3,325 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

United Advisor Group LLC trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 39.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,003 shares of the bank's stock after selling 3,325 shares during the period. United Advisor Group LLC's holdings in Bank of New York Mellon were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon during the 1st quarter valued at $94,000. Hartford Financial Management Inc. increased its holdings in Bank of New York Mellon by 43.5% in the 1st quarter. Hartford Financial Management Inc. now owns 723 shares of the bank's stock worth $61,000 after acquiring an additional 219 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in Bank of New York Mellon by 0.7% in the 1st quarter. Premier Path Wealth Partners LLC now owns 23,214 shares of the bank's stock valued at $1,947,000 after acquiring an additional 170 shares during the period. Friedenthal Financial lifted its holdings in Bank of New York Mellon by 26.0% during the first quarter. Friedenthal Financial now owns 926 shares of the bank's stock valued at $78,000 after purchasing an additional 191 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Bank of New York Mellon by 1.4% during the first quarter. State of Alaska Department of Revenue now owns 84,104 shares of the bank's stock worth $7,053,000 after purchasing an additional 1,200 shares during the period. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction 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 completion of the sale, the vice president now directly owns 87,542 shares of the company's stock, valued at $6,767,872.02. This represents 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 worth $7,869,795. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

BK has been the topic of several research reports. Wells Fargo & Company boosted their price target 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 report on Monday, March 3rd. Citigroup boosted their target price on shares of 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. Morgan Stanley increased their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Evercore ISI lifted their price target 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. Finally, Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of "Moderate Buy" and an average price target of $91.85.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $91.49 on Friday. The stock has a market cap of $65.46 billion, a P/E ratio of 14.90, a PEG ratio of 1.02 and a beta of 1.08. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.81. The business's 50-day moving average price is $85.23 and its two-hundred day moving average price is $83.17. The Bank of New York Mellon Corporation has a twelve month low of $58.19 and a twelve month high of $92.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) 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 analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. Bank of New York Mellon's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 earnings per share. As a group, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 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.

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