The Bank of New York Mellon Corporation $BK Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,687 shares of the bank’s stock after selling 15,835 shares during the period. Martingale Asset Management L P’s holdings in Bank of New York Mellon were worth $25,219,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at $773,627,000. Northern Trust Corp boosted its holdings in shares of Bank of New York Mellon by 19.1% during 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. GAMMA Investing LLC boosted its holdings in shares of Bank of New York Mellon by 9,538.9% during the first quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank’s stock worth $117,414,000 after purchasing an additional 1,385,434 shares during the period. AustralianSuper Pty Ltd purchased a new position in Bank of New York Mellon during the first quarter valued at approximately $92,502,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Bank of New York Mellon by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,689,477 shares of the bank’s stock valued at $590,783,000 after buying an additional 1,055,389 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Price Performance

NYSE BK opened at $101.20 on Thursday. The stock has a 50-day simple moving average of $96.45 and a 200 day simple moving average of $88.39. The Bank of New York Mellon Corporation has a twelve month low of $65.01 and a twelve month high of $104.47. The stock has a market capitalization of $71.37 billion, a PE ratio of 15.45, a P/E/G ratio of 0.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the business posted $1.51 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given a $0.53 dividend. The ex-dividend date was Friday, July 25th. This represents a $2.12 annualized dividend and a yield of 2.1%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.37%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley boosted their price target on Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Truist Financial increased their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Evercore ISI raised their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.08.

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.