Yacktman Asset Management LP Has $48.13 Million Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Yacktman Asset Management LP trimmed its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 52.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 573,868 shares of the bank's stock after selling 639,756 shares during the quarter. Yacktman Asset Management LP owned about 0.08% of Bank of New York Mellon worth $48,130,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon in the first quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the 1st quarter worth about $25,000. Parvin Asset Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $25,000. Bellwether Advisors LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $28,000. Finally, REAP Financial Group LLC lifted its stake in shares of Bank of New York Mellon by 123.2% during the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock valued at $30,000 after buying an additional 218 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president directly owned 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president owned 55,115 shares of the company's stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 in the last three months. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BK has been the topic of several research reports. Royal Bank Of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Citigroup boosted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Truist Financial lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $87.00 to $97.00 in a research note on Wednesday, May 28th. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average target price of $92.08.

Bank of New York Mellon Price Performance

BK stock opened at $92.72 on Wednesday. The Bank of New York Mellon Corporation has a twelve month low of $59.41 and a twelve month high of $93.79. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The business has a 50 day simple moving average of $88.86 and a 200-day simple moving average of $84.29. The company has a market capitalization of $66.33 billion, a P/E ratio of 15.10, a PEG ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. As a group, equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.03%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

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.

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