The Bank of New York Mellon Corporation (NYSE:BK) Shares Sold by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lowered its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,727 shares of the bank’s stock after selling 573 shares during the period. Sage Mountain Advisors LLC’s holdings in Bank of New York Mellon were worth $396,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wealthfront Advisers LLC grew its holdings in Bank of New York Mellon by 7.8% during the 1st quarter. Wealthfront Advisers LLC now owns 81,799 shares of the bank’s stock valued at $6,860,000 after purchasing an additional 5,887 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Bank of New York Mellon by 27.1% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 10,253 shares of the bank’s stock valued at $860,000 after purchasing an additional 2,186 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Bank of New York Mellon by 12.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,079 shares of the bank’s stock valued at $258,000 after purchasing an additional 346 shares in the last quarter. Dakota Wealth Management grew its holdings in Bank of New York Mellon by 9.8% during the 1st quarter. Dakota Wealth Management now owns 191,685 shares of the bank’s stock valued at $16,077,000 after purchasing an additional 17,048 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Bank of New York Mellon by 44.2% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 4,186 shares of the bank’s stock valued at $351,000 after purchasing an additional 1,284 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BK shares. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Citigroup increased their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Finally, Truist Financial downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and increased their price objective for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $92.08.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the sale, the executive vice president directly owned 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 0.2%

Bank of New York Mellon stock opened at $95.02 on Wednesday. The firm’s 50-day moving average is $90.10 and its 200-day moving average is $84.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69. The Bank of New York Mellon Corporation has a 1 year low of $60.93 and a 1 year high of $96.47. The company has a market cap of $67.98 billion, a P/E ratio of 15.48, a PEG ratio of 1.03 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, July 15th. The bank reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.20. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the firm posted $1.51 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 7th. Stockholders of record on Friday, July 25th will be given a $0.53 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.23%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

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.