The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 30.0% during the fourth quarter, Holdings Channel reports. The firm owned 678,993 shares of the bank’s stock after selling 290,915 shares during the period. Russell Investments Group Ltd.’s holdings in Bank of New York Mellon were worth $35,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Citizens Financial Group Inc. RI lifted its holdings in shares of Bank of New York Mellon by 1.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 35,475 shares of the bank’s stock valued at $1,846,000 after acquiring an additional 632 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Bank of New York Mellon by 33.2% during the 4th quarter. Truist Financial Corp now owns 1,297,698 shares of the bank’s stock valued at $67,545,000 after acquiring an additional 323,343 shares in the last quarter. Spinnaker Trust acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at $209,000. O Brien Greene & Co. Inc acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at $229,000. Finally, Stanley Laman Group Ltd. purchased a new stake in Bank of New York Mellon during the 4th quarter worth $462,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BK. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. UBS Group lifted their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Bank of America lifted their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Jefferies Financial Group lifted their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock valued at $5,459,897 in the last quarter. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

BK opened at $56.49 on Wednesday. The company has a 50-day moving average of $56.08 and a 200-day moving average of $52.13. The company has a market capitalization of $42.53 billion, a P/E ratio of 13.78, a PEG ratio of 1.23 and a beta of 1.12. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts expect that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

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.