The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 679,316 shares of the bank's stock after selling 16,300 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Bank of New York Mellon worth $52,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Czech National Bank increased its position in shares of Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank's stock worth $12,112,000 after purchasing an additional 7,316 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock worth $60,426,000 after buying an additional 82,671 shares during the period. Fifth Third Bancorp lifted its stake in Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock valued at $7,226,000 after buying an additional 7,935 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after acquiring an additional 17,457 shares during the period. Finally, Western Financial Corp CA purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $342,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling

In other news, VP Catherine Keating sold 65,473 shares of the company's 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 sale, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This represents a 42.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Performance

NYSE BK traded up $0.29 during trading hours on Monday, hitting $78.94. 2,995,319 shares of the company's stock traded hands, compared to its average volume of 3,968,784. The business's fifty day moving average price is $81.68 and its two-hundred day moving average price is $80.56. 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 firm has a market capitalization of $56.68 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52 week low of $56.08 and a 52 week high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly 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. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The company's revenue for the quarter was up 5.9% on a year-over-year basis. Equities research analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.38%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Bank of America lifted their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Finally, Truist Financial decreased their price objective on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price of $91.31.

About Bank of New York Mellon

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.