Centaurus Financial Inc. Trims Position in The Bank of New York Mellon Co. (NYSE:BK)

Centaurus Financial Inc. cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,897 shares of the bank’s stock after selling 316 shares during the quarter. Centaurus Financial Inc.’s holdings in Bank of New York Mellon were worth $453,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $28,000. REAP Financial Group LLC boosted its position in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after purchasing an additional 218 shares in the last quarter. Transce3nd LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $33,000. Finally, South Plains Financial Inc. bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $34,000. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $5,061,717.63. Following the completion of the transaction, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Down 0.5%

Shares of NYSE:BK opened at $88.65 on Friday. The company has a market cap of $63.42 billion, a P/E ratio of 15.26, a PEG ratio of 0.97 and a beta of 1.05. 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 Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63. The stock’s fifty day moving average price is $82.36 and its 200-day moving average price is $82.20.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is 30.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. 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 research report on Tuesday, April 1st. Citigroup boosted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Truist Financial downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and boosted their target price for the stock from $87.00 to $97.00 in a report on Wednesday. Wells Fargo & Company boosted 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $92.08.

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.