SGL Investment Advisors Inc. Lowers Stake in The Bank of New York Mellon Co. (NYSE:BK)

SGL Investment Advisors Inc. cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,594 shares of the bank’s stock after selling 1,429 shares during the quarter. SGL Investment Advisors Inc.’s holdings in Bank of New York Mellon were worth $733,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BK. Shell Asset Management Co. raised its holdings in Bank of New York Mellon by 41.7% in the fourth quarter. Shell Asset Management Co. now owns 52,128 shares of the bank’s stock worth $4,005,000 after purchasing an additional 15,337 shares in the last quarter. Royal Bank of Canada grew its position in shares of Bank of New York Mellon by 13.2% in the 4th quarter. Royal Bank of Canada now owns 4,315,954 shares of the bank’s stock worth $331,595,000 after buying an additional 502,502 shares during the last quarter. Rafferty Asset Management LLC raised its stake in shares of Bank of New York Mellon by 2.5% during the 4th quarter. Rafferty Asset Management LLC now owns 256,522 shares of the bank’s stock worth $19,709,000 after acquiring an additional 6,337 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Bank of New York Mellon during the fourth quarter valued at approximately $6,822,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Bank of New York Mellon by 58.5% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 22,238 shares of the bank’s stock valued at $1,709,000 after acquiring an additional 8,206 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The stock was 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 of the company’s stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock worth $7,869,795 in the last three months. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BK shares. Truist Financial reduced their price target on Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company increased their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. Morgan Stanley lowered their target price on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Evercore ISI upped their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.31.

Bank of New York Mellon Trading Up 1.5%

NYSE BK opened at $89.30 on Friday. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market capitalization of $63.89 billion, a PE ratio of 15.37, a P/E/G ratio of 0.97 and a beta of 1.05. The company has a fifty day moving average of $80.89 and a 200 day moving average of $81.24.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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 business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. Research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

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.