Sumitomo Mitsui Trust Holdings Inc. Decreases Position in The Bank of New York Mellon Co. (NYSE:BK)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,022,334 shares of the bank’s stock after selling 53,895 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Bank of New York Mellon worth $116,527,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quent Capital LLC lifted its position in shares of Bank of New York Mellon by 3.8% during the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock worth $262,000 after purchasing an additional 182 shares in the last quarter. Hartford Financial Management Inc. lifted its holdings in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after buying an additional 183 shares in the last quarter. Vivaldi Capital Management LP boosted its position in Bank of New York Mellon by 3.3% in the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after buying an additional 192 shares during the last quarter. Certuity LLC lifted its stake in shares of Bank of New York Mellon by 2.3% in the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock worth $467,000 after acquiring an additional 205 shares in the last quarter. Finally, Choreo LLC boosted its holdings in Bank of New York Mellon by 1.8% in the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock valued at $620,000 after purchasing an additional 208 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on BK. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Bank of America boosted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods raised Bank of New York Mellon from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $60.00 to $70.00 in a report on Thursday, June 27th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $61.00 target price on shares of Bank of New York Mellon in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.15.

Bank of New York Mellon Trading Down 0.0 %

NYSE:BK opened at $60.47 on Thursday. The firm has a market capitalization of $45.22 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.20 and a beta of 1.09. The business has a 50 day simple moving average of $58.57 and a 200 day simple moving average of $56.19. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $60.91.

Bank of New York Mellon (NYSE:BK) last announced 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 net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts predict that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.78%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.