Edgar Lomax Co. VA Sells 446,470 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Edgar Lomax Co. VA lowered its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 68.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204,724 shares of the bank's stock after selling 446,470 shares during the period. Edgar Lomax Co. VA's holdings in Bank of New York Mellon were worth $15,729,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. McIlrath & Eck LLC increased its stake in shares of Bank of New York Mellon by 3.8% in the 3rd quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank's stock worth $493,000 after acquiring an additional 254 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in Bank of New York Mellon by 3.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock worth $705,000 after acquiring an additional 345 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $2,617,000. Wilmington Savings Fund Society FSB grew its stake in Bank of New York Mellon by 340.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock worth $2,011,000 after purchasing an additional 21,641 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Bank of New York Mellon by 7.1% in the third quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock valued at $2,426,000 after acquiring an additional 2,240 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 1.9 %

Shares of BK traded up $1.43 during mid-day trading on Wednesday, reaching $77.74. 3,764,119 shares of the stock traded hands, compared to its average volume of 3,956,943. The stock has a fifty day simple moving average of $82.28 and a 200 day simple moving average of $80.41. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $55.82 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 12-month low of $56.08 and a 12-month high of $90.34.

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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the firm earned $1.29 EPS. Bank of New York Mellon's quarterly revenue was up 5.9% on a year-over-year basis. Sell-side 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 business also recently declared 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 annualized dividend and a dividend yield of 2.42%. Bank of New York Mellon's payout ratio is 30.62%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BK. Wells Fargo & Company upped their price objective 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. Bank of America upped their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Morgan Stanley reduced their target price on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Citigroup lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Finally, Truist Financial cut their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction dated Monday, April 14th. The shares were 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 of the company's stock, valued at $1,680,122.50. This trade represents a 20.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following 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. Corporate insiders own 0.14% of the company's stock.

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.