RBF Capital LLC Has $7.68 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

RBF Capital LLC cut its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the bank's stock after selling 10,000 shares during the period. RBF Capital LLC's holdings in Bank of New York Mellon were worth $7,683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Bank of New York Mellon during the fourth quarter worth approximately $1,150,462,000. FMR LLC boosted its holdings in shares of Bank of New York Mellon by 19.3% during 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. Raymond James Financial Inc. acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $90,955,000. Arrowstreet Capital Limited Partnership grew its position in shares of Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock worth $595,526,000 after buying an additional 1,125,493 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Bank of New York Mellon by 31.1% in the 4th quarter. Marshall Wace LLP now owns 2,357,923 shares of the bank's stock valued at $181,159,000 after acquiring an additional 559,818 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Insiders Place Their Bets

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 transaction, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction 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 transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Price Performance

BK opened at $76.25 on Wednesday. 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. The company 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. The firm's fifty day moving average price is $82.28 and its two-hundred day moving average price is $80.41.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released 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. The business had revenue of $4.79 billion for the quarter, compared to analysts' expectations 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 firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 earnings per share. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share 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 issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.47%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Analyst Ratings Changes

A number of equities research analysts have commented on BK shares. Evercore ISI raised 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. UBS Group raised their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. 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 report on Monday, April 14th. Finally, Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average price target of $91.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.