ProShare Advisors LLC Sells 5,943 Shares of The Bank of New York Mellon Co. (NYSE:BK)

ProShare Advisors LLC reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 155,818 shares of the bank’s stock after selling 5,943 shares during the quarter. ProShare Advisors LLC’s holdings in Bank of New York Mellon were worth $11,971,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $1,150,462,000. FMR LLC increased its stake in shares of Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares during the period. Northern Trust Corp increased its stake in shares of Bank of New York Mellon by 19.1% in the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock worth $732,468,000 after purchasing an additional 1,526,686 shares during the period. Raymond James Financial Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $90,955,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Bank of New York Mellon by 17.0% during the fourth 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 in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president now directly owns 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction 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 transaction, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock worth $7,869,795 in the last three months. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 0.7%

Shares of BK opened at $90.06 on Friday. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.50. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $81.07 and a 200-day simple moving average of $81.33. The stock has a market cap of $64.43 billion, a PE ratio of 15.50, a PEG ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.29 EPS. On average, sell-side 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.09%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

Analysts Set New Price Targets

BK has been the subject of several recent research reports. Morgan Stanley cut their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Citigroup upped 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. UBS Group upped their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed 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. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently 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.