Ethic Inc. Sells 17,604 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Ethic Inc. lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,281 shares of the bank's stock after selling 17,604 shares during the quarter. Ethic Inc.'s holdings in Bank of New York Mellon were worth $11,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock worth $63,514,000 after acquiring an additional 14,916 shares in the last quarter. Nordea Investment Management AB raised its holdings in Bank of New York Mellon by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 62,213 shares of the bank's stock worth $4,790,000 after acquiring an additional 3,247 shares during the period. Fortitude Family Office LLC raised its holdings in Bank of New York Mellon by 45.8% in the 4th quarter. Fortitude Family Office LLC now owns 891 shares of the bank's stock worth $68,000 after acquiring an additional 280 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Bank of New York Mellon by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 90,258 shares of the bank's stock worth $6,486,000 after acquiring an additional 837 shares during the period. Finally, ST Germain D J Co. Inc. raised its holdings in Bank of New York Mellon by 27.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,927 shares of the bank's stock worth $225,000 after acquiring an additional 624 shares during the period. Institutional investors own 85.31% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America lifted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. UBS Group increased their price objective on 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. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley lowered their price target on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded up $0.40 during mid-day trading on Friday, hitting $85.90. 3,855,244 shares of the company were exchanged, compared to its average volume of 4,004,821. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $80.67 and a 200 day moving average of $80.98. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.34. The company has a market capitalization of $61.46 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.76 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.19%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Insider Buying and Selling

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares of the company's stock, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock worth $7,869,795 in the last three months. 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.