The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,980,918 shares of the bank's stock after selling 963,936 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.41% of Bank of New York Mellon worth $229,025,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Transce3nd LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $33,000. Graney & King LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at $35,000. Centricity Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter worth $39,000. TCTC Holdings LLC grew its position in shares of Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after buying an additional 430 shares in the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Activity

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 completion of the sale, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. UBS Group increased their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Barclays raised their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Stock Up 0.4 %

Shares of Bank of New York Mellon stock traded up $0.30 on Thursday, reaching $80.71. 945,895 shares of the company were exchanged, compared to its average volume of 3,964,186. The Bank of New York Mellon Co. has a 1-year low of $56.08 and a 1-year high of $90.34. The company has a market cap of $57.95 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. 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 stock's 50 day moving average price is $81.22 and its 200-day moving average price is $80.59.

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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The business's revenue was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.33%. Bank of New York Mellon's dividend payout ratio is currently 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.