Wells Fargo & Company MN Sells 109,266 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Wells Fargo & Company MN lowered its holdings in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,668,967 shares of the bank’s stock after selling 109,266 shares during the period. Wells Fargo & Company MN owned about 1.13% of Bank of New York Mellon worth $451,220,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Searle & CO. purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth $234,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bank of New York Mellon by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after acquiring an additional 40,969 shares during the last quarter. Janney Capital Management LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $243,000. Trust Point Inc. bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $310,000. Finally, WCG Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon in the third quarter worth about $1,552,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the transaction, the vice president now owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold a total of 115,928 shares of company stock worth $6,475,216 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 0.8 %

NYSE:BK traded down $0.49 during mid-day trading on Monday, hitting $59.01. 786,553 shares of the company’s stock were exchanged, compared to its average volume of 3,763,416. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $59.70. The business has a fifty day moving average price of $56.68 and a 200 day moving average price of $53.56. The company has a market cap of $44.13 billion, a PE ratio of 14.51, a P/E/G ratio of 1.22 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 0.71.

Bank of New York Mellon (NYSE:BKGet Free Report) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 EPS. Equities analysts predict that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Analyst Ratings Changes

Several research firms have weighed in on BK. Morgan Stanley increased their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Bank of America raised their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Jefferies Financial Group raised 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 report on Thursday, April 18th. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.17.

View Our Latest Stock Analysis on Bank of New York Mellon

About Bank of New York Mellon

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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