Mission Wealth Management LP Sells 1,349 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Mission Wealth Management LP lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,184 shares of the bank’s stock after selling 1,349 shares during the quarter. Mission Wealth Management LP’s holdings in Bank of New York Mellon were worth $1,278,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth about $813,701,000. Vanguard Group Inc. raised its stake in shares of Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after purchasing an additional 4,293,751 shares during the last quarter. KBC Group NV raised its stake in shares of Bank of New York Mellon by 217.0% in the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after purchasing an additional 1,046,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bank of New York Mellon by 153.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after purchasing an additional 941,193 shares during the last quarter. Finally, Putnam Investments LLC raised its stake in shares of Bank of New York Mellon by 224.9% in the fourth quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock worth $52,105,000 after purchasing an additional 692,910 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.0 %

NYSE BK traded down $0.59 on Friday, reaching $59.88. 2,225,053 shares of the company were exchanged, compared to its average volume of 3,327,657. The business’s fifty day moving average price is $58.74 and its 200 day moving average price is $56.31. The stock has a market capitalization of $44.78 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.20 and a beta of 1.09. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $60.91.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. Analysts forecast that The Bank of New York Mellon Co. will post 5.47 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, 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 owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’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 disclosure for this sale can be found here. Insiders have sold a total of 115,928 shares of company stock valued at $6,475,216 in the last quarter. Insiders own 0.14% of the company’s stock.

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.