Fayez Sarofim & Co Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Fayez Sarofim & Co trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,825,290 shares of the bank’s stock after selling 113,920 shares during the quarter. Fayez Sarofim & Co’s holdings in Bank of New York Mellon were worth $217,067,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transce3nd LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at about $33,000. Graney & King LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $35,000. Centricity Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter worth $39,000. TCTC Holdings LLC raised its holdings in shares of Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after acquiring an additional 430 shares during the period. Finally, Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares of the company’s stock, valued at $6,767,872.02. This represents a 42.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Price Performance

BK stock opened at $76.25 on Monday. The stock has a 50-day moving average price of $82.72 and a two-hundred day moving average price of $80.43. The company has a market cap of $54.75 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $56.08 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. As a group, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

Analysts Set New Price Targets

Several research firms have recently commented on BK. Bank of America raised their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. UBS Group raised their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Truist Financial lowered their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Citigroup lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Finally, Barclays boosted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.31.

About Bank of New York Mellon

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.