OFI Invest Asset Management Sells 6,723 Shares of The Bank of New York Mellon Corporation $BK

OFI Invest Asset Management reduced its position in The Bank of New York Mellon Corporation (NYSE:BK) by 23.1% during the second quarter, Holdings Channel.com reports. The firm owned 22,350 shares of the bank’s stock after selling 6,723 shares during the quarter. OFI Invest Asset Management’s holdings in Bank of New York Mellon were worth $2,036,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in Bank of New York Mellon by 1.9% during the 1st quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank’s stock valued at $1,010,093,000 after acquiring an additional 221,613 shares in the last quarter. Nuveen LLC bought a new position in Bank of New York Mellon during the 1st quarter valued at $773,627,000. Invesco Ltd. lifted its stake in Bank of New York Mellon by 8.8% during the 1st quarter. Invesco Ltd. now owns 8,264,176 shares of the bank’s stock valued at $693,116,000 after acquiring an additional 667,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Bank of New York Mellon by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,125,577 shares of the bank’s stock valued at $681,492,000 after acquiring an additional 436,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after acquiring an additional 1,052,145 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial raised their price objective on Bank of New York Mellon from $109.00 to $118.00 and gave the company a “hold” rating in a research note on Thursday, October 2nd. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group lifted their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Morgan Stanley lifted their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Finally, Wells Fargo & Company lifted their target price on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.77.

Bank of New York Mellon Trading Down 2.1%

Shares of BK opened at $104.63 on Friday. The business has a 50-day moving average of $105.10 and a 200 day moving average of $93.74. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87. The firm has a market cap of $73.79 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. 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 announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. 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 $4.38 billion during the quarter. As a group, research analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a $0.53 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, July 25th. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon’s payout ratio is 32.37%.

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.