The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,069,613 shares of the bank's stock after selling 18,601 shares during the period. Federated Hermes Inc. owned about 0.14% of Bank of New York Mellon worth $55,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Quilter Plc acquired a new position in Bank of New York Mellon in the 1st quarter valued at about $446,850,000. Brown Brothers Harriman & Co. increased its stake in Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank's stock worth $30,000 after buying an additional 300 shares during the period. Hartford Financial Management Inc. increased its stake in Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank's stock worth $33,000 after buying an additional 183 shares during the period. Sunbelt Securities Inc. purchased a new stake in Bank of New York Mellon during the 1st quarter worth approximately $36,000. Finally, Blue Trust Inc. increased its stake in Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank's stock worth $45,000 after buying an additional 527 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

NYSE:BK traded up $1.04 during trading hours on Friday, reaching $56.29. 4,420,732 shares of the company's stock were exchanged, compared to its average volume of 3,473,028. The firm has a market capitalization of $42.38 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.19 and a beta of 1.12. The company has a 50-day moving average of $55.76 and a 200 day moving average of $51.30. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. Research analysts anticipate that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.98%.

Analyst Upgrades and Downgrades

BK has been the topic of several recent research reports. UBS Group upped their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, January 9th. Citigroup increased their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an "in-line" rating in a research report on Thursday, April 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Bank of America increased their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average price target of $60.06.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the firm's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company's stock.

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.