CVA Family Office LLC Has $149,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

CVA Family Office LLC grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.2% during the first quarter, HoldingsChannel.com reports. The firm owned 1,777 shares of the bank’s stock after acquiring an additional 234 shares during the quarter. CVA Family Office LLC’s holdings in Bank of New York Mellon were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Bank of New York Mellon by 11.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock worth $60,426,000 after acquiring an additional 82,671 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after acquiring an additional 17,457 shares during the period. Benson Investment Management Company Inc. bought a new stake in shares of Bank of New York Mellon during the 1st quarter worth approximately $5,259,000. NEOS Investment Management LLC lifted its holdings in shares of Bank of New York Mellon by 31.6% during the 4th quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank’s stock worth $3,584,000 after acquiring an additional 11,200 shares during the period. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of Bank of New York Mellon by 2.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 324,440 shares of the bank’s stock worth $24,927,000 after acquiring an additional 6,307 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

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 transaction of $2,370,900.00. Following the completion of the sale, the executive vice president now directly owns 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the 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 sale, the vice president now owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,114 shares of company stock valued at $7,869,795. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock opened at $88.50 on Friday. The company has a fifty day moving average price of $84.13 and a 200-day moving average price of $82.93. The company has a market capitalization of $63.32 billion, a P/E ratio of 15.23, a PEG ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm 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 net margin of 11.35% and a return on equity of 12.68%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 earnings per share. As a group, equities analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s payout ratio is currently 30.62%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent analyst reports. Truist Financial downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and upped their price target for the stock from $87.00 to $97.00 in a report on Wednesday, May 28th. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Evercore ISI upped their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Wall Street Zen downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $91.85.

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.