Guggenheim Capital LLC Trims Position in The Bank of New York Mellon Co. (NYSE:BK)

Guggenheim Capital LLC trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 52.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,030 shares of the bank's stock after selling 20,663 shares during the period. Guggenheim Capital LLC's holdings in Bank of New York Mellon were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in BK. Graney & King LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $35,000. Centricity Wealth Management LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $39,000. TCTC Holdings LLC increased its holdings in Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after buying an additional 430 shares during the period. Modus Advisors LLC bought a new position in Bank of New York Mellon in the fourth quarter worth approximately $49,000. Finally, Friedenthal Financial purchased a new stake in Bank of New York Mellon during the fourth quarter worth $56,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of several recent research reports. UBS Group upped their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of 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. Citigroup boosted their price objective 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. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Finally, Wolfe Research downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Stock Down 3.0 %

NYSE:BK opened at $74.06 on Tuesday. The firm has a market capitalization of $53.17 billion, a P/E ratio of 12.75, a PEG ratio of 0.97 and a beta of 1.03. The company's fifty day moving average price is $82.49 and its 200-day moving average price is $80.44. The Bank of New York Mellon Co. has a 1-year low of $56.08 and a 1-year high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. As a group, equities research analysts anticipate 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 announced 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. This represents a $1.88 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business'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 owns 21,679 shares of the company's stock, valued at $1,680,122.50. This trade 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 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.

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