Siemens Fonds Invest GmbH Trims Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Siemens Fonds Invest GmbH reduced its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 47.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,392 shares of the bank’s stock after selling 3,976 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Bank of New York Mellon were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Bank of New York Mellon by 130.6% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,177 shares of the bank’s stock worth $551,000 after acquiring an additional 4,065 shares during the period. Blue Trust Inc. lifted its holdings in Bank of New York Mellon by 57.6% during the 4th quarter. Blue Trust Inc. now owns 2,637 shares of the bank’s stock worth $189,000 after purchasing an additional 964 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon in the 4th quarter worth about $220,000. Perigon Wealth Management LLC grew its holdings in Bank of New York Mellon by 7.3% during the 4th quarter. Perigon Wealth Management LLC now owns 6,369 shares of the bank’s stock valued at $524,000 after buying an additional 431 shares in the last quarter. Finally, Asset Dedication LLC increased its position in shares of Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after buying an additional 585 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 0.3%

Shares of BK stock opened at $89.03 on Friday. The business has a 50-day moving average price of $82.29 and a two-hundred day moving average price of $82.13. The Bank of New York Mellon Co. has a 12-month low of $57.18 and a 12-month high of $90.63. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $63.69 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05.

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

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.11%. Bank of New York Mellon’s payout ratio is 30.62%.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the sale, the insider now directly owns 21,679 shares of the company’s stock, valued at approximately $1,680,122.50. This trade represents a 20.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,114 shares of company stock valued at $7,869,795. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on BK shares. Morgan Stanley cut their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Truist Financial downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating and increased their price objective for the stock from $87.00 to $97.00 in a research report on Wednesday. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Finally, Wall Street Zen cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.08.

Bank of New York Mellon Company 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.