Insider Selling: The Bank of New York Mellon Co. (NYSE:BK) Insider Sells 5,641 Shares of Stock

The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the transaction, the insider now owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Bank of New York Mellon Stock Down 3.0 %

Shares of NYSE:BK traded down $2.28 during midday trading on Monday, hitting $74.06. 2,627,387 shares of the company's stock traded hands, compared to its average volume of 3,954,305. The firm's fifty day moving average price is $82.72 and its two-hundred day moving average price is $80.43. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a twelve month low of $56.08 and a twelve month high of $90.34. The company has a market cap of $53.17 billion, a PE ratio of 12.75, 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 released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating 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 company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period last year, the company posted $1.29 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a 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 presently 30.62%.

Institutional Trading of Bank of New York Mellon

Several large investors have recently bought and sold shares of BK. Norges Bank purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at $1,150,462,000. FMR LLC lifted its holdings in Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after buying an additional 3,732,862 shares in the last quarter. Northern Trust Corp grew its stake in shares of Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Bank of New York Mellon by 9,538.9% in the first quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock worth $117,414,000 after acquiring an additional 1,385,434 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Bank of New York Mellon in the fourth quarter valued at about $90,955,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on BK shares. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Truist Financial cut their price target on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Wolfe Research downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.