Cwm LLC reduced its position in shares of The Bank of New York Mellon Corporation (NYSE:BK – Free Report) by 5.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 331,511 shares of the bank’s stock after selling 19,288 shares during the quarter. Cwm LLC’s holdings in Bank of New York Mellon were worth $27,804,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Bank of New York Mellon during the fourth quarter valued at $1,150,462,000. FMR LLC grew its stake in shares of Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock worth $1,772,590,000 after buying an additional 3,732,862 shares during the last quarter. Northern Trust Corp increased its position in Bank of New York Mellon by 19.1% during the 4th quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock valued at $732,468,000 after buying an additional 1,526,686 shares in the last quarter. GAMMA Investing LLC increased its position in Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank’s stock valued at $117,414,000 after buying an additional 1,385,434 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock worth $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
Bank of New York Mellon Price Performance
Shares of Bank of New York Mellon stock opened at $93.70 on Monday. The stock has a market cap of $67.04 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.00 and a beta of 1.07. 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 stock’s fifty day moving average is $89.60 and its 200 day moving average is $84.66. The Bank of New York Mellon Corporation has a one year low of $60.93 and a one year high of $93.93.
Analyst Ratings Changes
Several brokerages have issued reports on BK. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Morgan Stanley boosted their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Truist Financial downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and raised their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Finally, Citigroup lifted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $92.08.
Check Out Our Latest Stock Report on Bank of New York Mellon
Insider Buying and Selling
In other news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction on 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 completion of the sale, the executive vice president directly owned 55,115 shares of the company’s stock, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.
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