The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 23.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 748,538 shares of the bank’s stock after selling 229,071 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of Bank of New York Mellon worth $43,131,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $28,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at $32,000. Able Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth $32,000. Hartford Financial Management Inc. grew its stake in shares of Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after purchasing an additional 183 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after buying an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Evercore ISI reaffirmed an “in-line” rating and issued a $61.00 price target on shares of Bank of New York Mellon in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Bank of America upped their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods upgraded shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $60.00 to $70.00 in a research note on Thursday, June 27th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.15.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the sale, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,928 shares of company stock valued at $6,475,216. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Down 0.0 %

Shares of Bank of New York Mellon stock opened at $60.47 on Thursday. The company’s fifty day moving average is $58.57 and its two-hundred day moving average is $56.19. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $60.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $45.22 billion, a P/E ratio of 14.75, a PEG ratio of 1.20 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts forecast that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.78%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

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.