The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,608,994 shares of the bank's stock after selling 58,956 shares during the quarter. Bank of New York Mellon comprises 0.9% of Gabelli Funds LLC's portfolio, making the stock its 16th largest position. Gabelli Funds LLC owned approximately 0.22% of Bank of New York Mellon worth $123,619,000 as of its most recent SEC filing.

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

Insider Activity

In other Bank of New York Mellon 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 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 $1,680,122.50. This trade represents a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon 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 completion of the sale, 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. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

NYSE BK traded up $0.52 on Friday, reaching $76.25. 4,317,948 shares of the company's stock traded hands, compared to its average volume of 3,959,539. The stock has a 50 day moving average price of $82.91 and a 200-day moving average price of $80.26. The firm has a market cap 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 Bank of New York Mellon Co. has a fifty-two week low of $54.76 and a fifty-two week high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share 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 during the quarter, compared to analysts' expectations of $4.76 billion. During the same period last year, the business earned $1.29 earnings per share. Bank of New York Mellon's quarterly revenue was up 5.9% on a year-over-year basis. Equities research analysts predict 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 annualized dividend and a dividend yield of 2.47%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BK. Evercore ISI raised their price objective 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. Royal Bank of Canada restated a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Morgan Stanley cut 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. Finally, Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.64.

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.