The Bank of New York Mellon Co. (NYSE:BK) Insider Kurtis R. Kurimsky Sells 6,215 Shares

The Bank of New York Mellon Co. (NYSE:BK) insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the sale, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $58.62 on Friday. The company has a market capitalization of $44.13 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.23 and a beta of 1.11. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.68. The business has a 50-day moving average of $56.28 and a 200-day moving average of $52.68.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.87%. 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%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Bank of New York Mellon by 99.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 930,275 shares of the bank’s stock valued at $53,271,000 after purchasing an additional 463,360 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Bank of New York Mellon during the 1st quarter valued at about $6,087,000. Councilmark Asset Management LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $1,504,000. M&G Plc acquired a new stake in shares of Bank of New York Mellon in the 1st quarter worth approximately $55,543,000. Finally, Tocqueville Asset Management L.P. boosted its holdings in shares of Bank of New York Mellon by 4.1% in the first quarter. Tocqueville Asset Management L.P. now owns 13,492 shares of the bank’s stock valued at $777,000 after acquiring an additional 528 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on BK shares. Jefferies Financial Group lifted their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Morgan Stanley increased their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Bank of America increased their target price on shares of 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $60.17.

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.