The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 89.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 345,662 shares of the bank's stock after selling 2,913,305 shares during the period. Wellington Management Group LLP's holdings in Bank of New York Mellon were worth $26,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BK. Blue Trust Inc. lifted its position in Bank of New York Mellon by 57.6% during the 4th quarter. Blue Trust Inc. now owns 2,637 shares of the bank's stock worth $189,000 after acquiring an additional 964 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth about $220,000. Perigon Wealth Management LLC lifted its holdings in shares of Bank of New York Mellon by 7.3% during the fourth quarter. Perigon Wealth Management LLC now owns 6,369 shares of the bank's stock worth $524,000 after purchasing an additional 431 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $1,221,000. Finally, Cibc World Market Inc. increased its holdings in Bank of New York Mellon by 26.0% in the 4th quarter. Cibc World Market Inc. now owns 195,533 shares of the bank's stock worth $15,023,000 after buying an additional 40,360 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.32 on Monday, reaching $88.93. 2,449,413 shares of the company were exchanged, compared to its average volume of 4,067,046. 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 debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The business has a 50-day moving average price of $82.36 and a 200 day moving average price of $82.27. The company has a market cap of $63.62 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its 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. 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 12.68% and a net margin of 11.35%. The business's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. Equities research analysts forecast 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 Announces Dividend

The firm also recently announced 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 2.11%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BK. Citigroup lifted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. 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 report on Monday, March 17th. Morgan Stanley lowered their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company lifted their price objective on 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. Finally, 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 research note on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average target price of $92.08.

Insider Transactions at Bank of New York Mellon

In related news, 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 stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following 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 position. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock valued at $7,869,795 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

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.