The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Freedom Together Foundation

Freedom Together Foundation cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 78.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,680 shares of the bank's stock after selling 25,000 shares during the period. Bank of New York Mellon accounts for 0.1% of Freedom Together Foundation's holdings, making the stock its 19th biggest position. Freedom Together Foundation's holdings in Bank of New York Mellon were worth $513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $25,000. Bellwether Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $28,000. Transce3nd LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $33,000. South Plains Financial Inc. acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $34,000. Finally, Graney & King LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value 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 approximately $4,355,738.45. This trade represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction that occurred 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 directly 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 disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock worth $7,869,795 over the last ninety days. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on BK shares. Bank of America increased their price objective 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 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Truist Financial lowered their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research report 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 note on Wednesday, February 19th. Finally, Evercore ISI upped their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Stock Performance

NYSE BK opened at $85.90 on Friday. The stock has a fifty day simple moving average of $80.67 and a 200-day simple moving average of $80.91. 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 stock has a market cap of $61.46 billion, a PE ratio of 14.78, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.34.

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, topping the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon's revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. Equities analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Bank of New York Mellon 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.

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