The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 30.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 678,993 shares of the bank’s stock after selling 290,915 shares during the period. Russell Investments Group Ltd. owned 0.09% of Bank of New York Mellon worth $35,351,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in Bank of New York Mellon by 142.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after purchasing an additional 951,730 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Bank of New York Mellon by 153.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after purchasing an additional 941,193 shares during the period. Barclays PLC raised its position in Bank of New York Mellon by 30.0% in the third quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock valued at $160,020,000 after purchasing an additional 866,548 shares during the period. Northern Trust Corp raised its position in Bank of New York Mellon by 8.2% in the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after purchasing an additional 715,421 shares during the period. Finally, Bank of Nova Scotia raised its position in Bank of New York Mellon by 1,191.2% in the third quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock valued at $31,953,000 after purchasing an additional 691,172 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock valued at $5,459,897 over the last quarter. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

BK has been the topic of a number of research analyst reports. 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 research report on Wednesday, March 27th. Bank of America boosted their target price on 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. Morgan Stanley upped 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 research report on Thursday, April 18th. Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group upped their price objective on 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. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $56.49 on Wednesday. The firm has a market capitalization of $42.53 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12. The business’s fifty day moving average price is $56.08 and its 200 day moving average price is $52.13. 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 12 month low of $39.65 and a 12 month high of $58.28.

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

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Bank of New York Mellon Company 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.