The Bank of New York Mellon Corporation (NYSE:BK) Holdings Lifted by Impax Asset Management Group plc

Impax Asset Management Group plc increased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,510 shares of the bank’s stock after buying an additional 1,462 shares during the quarter. Impax Asset Management Group plc’s holdings in Bank of New York Mellon were worth $3,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BK. Strategic Blueprint LLC acquired a new stake in Bank of New York Mellon during the first quarter valued at $233,000. SMART Wealth LLC acquired a new stake in Bank of New York Mellon during the first quarter valued at $288,000. IFM Investors Pty Ltd boosted its position in Bank of New York Mellon by 8.2% during the first quarter. IFM Investors Pty Ltd now owns 167,826 shares of the bank’s stock valued at $14,076,000 after purchasing an additional 12,684 shares during the last quarter. Calamos Advisors LLC boosted its position in Bank of New York Mellon by 54.9% during the first quarter. Calamos Advisors LLC now owns 284,123 shares of the bank’s stock valued at $23,829,000 after purchasing an additional 100,736 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in Bank of New York Mellon by 11.9% during the first quarter. D.A. Davidson & CO. now owns 8,194 shares of the bank’s stock valued at $687,000 after purchasing an additional 873 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president directly owned 55,115 shares of the company’s stock, valued at $4,355,738.45. The trade was a 35.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president directly owned 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last three months. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Down 0.2%

BK stock opened at $91.93 on Friday. The Bank of New York Mellon Corporation has a 1-year low of $59.19 and a 1-year high of $92.85. The firm has a market cap of $65.77 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.03 and a beta of 1.07. The business’s 50 day moving average is $88.32 and its 200-day moving average is $84.07. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.96% and a net margin of 11.78%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the company posted $1.29 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. Equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s payout ratio is currently 30.62%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BK shares. Evercore ISI lifted their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a research report on Wednesday. Truist Financial cut Bank of New York Mellon from a “buy” rating to a “hold” rating and boosted their price target for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Morgan Stanley boosted their price target on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Citigroup boosted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $92.08.

Bank of New York Mellon 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.