ProShare Advisors LLC Cuts Stake in The Bank of New York Mellon Co. (NYSE:BK)

ProShare Advisors LLC cut its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 155,818 shares of the bank's stock after selling 5,943 shares during the period. ProShare Advisors LLC's holdings in Bank of New York Mellon were worth $11,971,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $1,150,462,000. FMR LLC boosted its holdings in Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Northern Trust Corp lifted its position in shares of Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $90,955,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock worth $595,526,000 after purchasing an additional 1,125,493 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 0.4%

Shares of BK stock traded down $0.33 during trading hours on Tuesday, hitting $90.00. 3,286,846 shares of the company's stock traded hands, compared to its average volume of 4,037,838. The stock's 50 day simple moving average is $81.26 and its 200 day simple moving average is $81.52. The stock has a market cap of $64.39 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 12 month low of $57.18 and a 12 month high of $90.63. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business's revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS 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. Investors of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Truist Financial cut their target price 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 note on Monday, April 14th. Citigroup increased their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Finally, Evercore ISI lifted 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 report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $91.31.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction 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 represents a 35.25% decrease in their position. The sale was disclosed in a filing with the SEC, 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 shares were 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 of the company's stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last quarter. Insiders own 0.14% of the company's stock.

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.