Guggenheim Capital LLC Sells 20,663 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Guggenheim Capital LLC decreased its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 52.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,030 shares of the bank's stock after selling 20,663 shares during the quarter. Guggenheim Capital LLC's holdings in Bank of New York Mellon were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Cape Investment Advisory Inc. increased its position in Bank of New York Mellon by 12.6% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock worth $90,000 after purchasing an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after purchasing an additional 133 shares in the last quarter. Grove Bank & Trust raised its holdings in Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank's stock valued at $60,000 after acquiring an additional 135 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock valued at $695,000 after purchasing an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC lifted its holdings in Bank of New York Mellon by 2.9% during the 4th quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank's stock worth $393,000 after buying an additional 142 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK stock traded down $0.05 during trading on Friday, reaching $78.67. The company had a trading volume of 2,507,972 shares, compared to its average volume of 3,972,694. The firm's 50 day simple moving average is $81.68 and its two-hundred day simple moving average is $80.56. 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 one year low of $56.08 and a one year high of $90.34. The company has a market capitalization of $56.48 billion, a PE ratio of 13.54, a PEG ratio of 0.97 and a beta of 1.03.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

BK has been the subject of several research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. 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. Morgan Stanley cut their target price on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. StockNews.com lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average target price of $91.31.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred 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 directly owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction 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 sale, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

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.