The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Dodge & Cox

Dodge & Cox reduced its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,699,198 shares of the bank's stock after selling 3,825,751 shares during the period. Bank of New York Mellon makes up approximately 2.0% of Dodge & Cox's portfolio, making the stock its 15th biggest position. Dodge & Cox owned about 6.15% of Bank of New York Mellon worth $3,434,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Graney & King LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $35,000. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $39,000. TCTC Holdings LLC grew its holdings in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after purchasing an additional 430 shares in the last quarter. Modus Advisors LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth approximately $49,000. Finally, Friedenthal Financial acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded up $0.52 during trading hours on Friday, hitting $76.25. 4,317,948 shares of the company were exchanged, compared to its average volume of 3,959,539. The business has a 50-day moving average of $82.91 and a 200-day moving average of $80.26. The Bank of New York Mellon Co. has a 1 year low of $54.76 and a 1 year high of $90.34. 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 stock has a market capitalization of $54.75 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 0.97 and a beta of 1.03.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business's revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Analyst Ratings Changes

A number of research firms recently issued reports on BK. Truist Financial decreased their target price on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a report on Monday. Citigroup lifted their price target 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. Morgan Stanley reduced their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Evercore ISI raised 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 note on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average target price of $89.64.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79 % 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 corporate insiders.

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.