The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by TAM Capital Management Inc.

TAM Capital Management Inc. cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 638,196 shares of the bank's stock after selling 40,003 shares during the quarter. Bank of New York Mellon accounts for 17.8% of TAM Capital Management Inc.'s investment portfolio, making the stock its 3rd biggest holding. TAM Capital Management Inc. owned approximately 0.09% of Bank of New York Mellon worth $49,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BK. Czech National Bank boosted its stake in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank's stock valued at $12,112,000 after buying an additional 7,316 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock worth $60,426,000 after buying an additional 82,671 shares during the period. Fifth Third Bancorp increased its holdings in shares of Bank of New York Mellon by 9.2% during the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock valued at $7,226,000 after purchasing an additional 7,935 shares during the period. Natixis Advisors LLC increased its stake in Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after buying an additional 17,457 shares during the period. Finally, Western Financial Corp CA bought a new stake in Bank of New York Mellon during the fourth quarter worth approximately $342,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the sale, the executive vice president now directly owns 55,115 shares of the company's stock, valued at $4,355,738.45. The trade was a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares of the company's stock, 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. In the last quarter, insiders sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 1.0 %

Shares of BK traded up $0.79 during mid-day trading on Tuesday, reaching $82.97. The company's stock had a trading volume of 1,784,945 shares, compared to its average volume of 3,971,135. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 52 week low of $56.98 and a 52 week high of $90.34. The company's fifty day moving average price is $80.90 and its two-hundred day moving average price is $80.74. The stock has a market cap of $59.57 billion, a PE ratio of 14.28, 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 quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS 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 business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The company's revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts predict 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 declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial reduced their price objective on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Monday, April 14th. 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. Wells Fargo & Company increased their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Morgan Stanley lowered 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 note on Wednesday, April 2nd. Finally, Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus price target of $91.31.

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.