Robeco Institutional Asset Management B.V. Sells 15,044 Shares of The Bank of New York Mellon Corporation (NYSE:BK)

Robeco Institutional Asset Management B.V. lowered its position in The Bank of New York Mellon Corporation (NYSE:BK) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,906,388 shares of the bank’s stock after selling 15,044 shares during the period. Robeco Institutional Asset Management B.V. owned 0.27% of Bank of New York Mellon worth $159,889,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in shares of Bank of New York Mellon in the 1st quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in Bank of New York Mellon during the first quarter worth $25,000. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $25,000. Bellwether Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at $28,000. Finally, REAP Financial Group LLC grew its holdings in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after buying an additional 218 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK opened at $89.97 on Thursday. The Bank of New York Mellon Corporation has a fifty-two week low of $58.19 and a fifty-two week high of $92.64. The firm has a 50-day moving average of $86.30 and a 200 day moving average of $83.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $64.37 billion, a P/E ratio of 14.65, a PEG ratio of 1.02 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its earnings results 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 net margin of 11.78% and a return on equity of 12.96%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.09%. Bank of New York Mellon’s payout ratio is 30.62%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BK. Royal Bank Of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Wells Fargo & Company increased their price objective on 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. Truist Financial cut Bank of New York Mellon from a “buy” rating to a “hold” rating and lifted their target price for the company from $87.00 to $97.00 in a research report on Wednesday, May 28th. Citigroup upped their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Finally, Morgan Stanley raised their price objective on Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.85.

Insider Buying and Selling at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,114 shares of company stock valued at $7,869,795. Company insiders own 0.14% of the company’s stock.

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.