The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,589 shares of the bank’s stock after purchasing an additional 1,048 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Bank of New York Mellon were worth $1,559,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its position in Bank of New York Mellon by 11.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock valued at $60,426,000 after buying an additional 82,671 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after acquiring an additional 17,457 shares during the last quarter. Benson Investment Management Company Inc. acquired a new position in shares of Bank of New York Mellon during the first quarter valued at about $5,259,000. NEOS Investment Management LLC raised its position in shares of Bank of New York Mellon by 31.6% in the 4th quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank’s stock valued at $3,584,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Bank of New York Mellon by 9.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 82,792 shares of the bank’s stock valued at $6,361,000 after purchasing an additional 7,029 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Wells Fargo & Company upped their target price 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. Evercore ISI lifted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Truist Financial lowered Bank of New York Mellon from a “buy” rating to a “hold” rating and increased their price objective for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Finally, Citigroup raised their price objective on 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.85.

Bank of New York Mellon Trading Up 2.0%

Shares of NYSE:BK opened at $90.33 on Monday. 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 12-month low of $57.18 and a 12-month high of $90.63. The business has a 50 day moving average of $82.87 and a two-hundred day moving average of $82.65. The company has a market capitalization of $64.63 billion, a PE ratio of 15.55, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its 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 analyst estimates of $4.76 billion. During the same period in the previous year, the firm earned $1.29 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.62%.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 55,115 shares of the company’s stock, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock valued at $7,869,795 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

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.