Barrett Asset Management LLC Has $4.22 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Barrett Asset Management LLC decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 22.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,017 shares of the bank’s stock after selling 25,079 shares during the quarter. Barrett Asset Management LLC’s holdings in Bank of New York Mellon were worth $4,219,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. raised its position in shares of Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Bank of New Hampshire bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $31,000. Dividend Assets Capital LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $32,000. Bromfield Sneider Wealth Advisors bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $33,000. Finally, Prospera Financial Services Inc bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $37,000. Institutional investors and hedge funds own 83.00% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other news, CEO Thomas P. Gibbons sold 105,062 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $43.24, for a total transaction of $4,542,880.88. Following the completion of the transaction, the chief executive officer now directly owns 221,018 shares in the company, valued at approximately $9,556,818.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.08% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $44.14 on Friday. The firm has a market cap of $35.67 billion, a PE ratio of 11.20, a PEG ratio of 1.68 and a beta of 1.11. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.78. The Bank of New York Mellon Co. has a 1-year low of $39.78 and a 1-year high of $64.63. The company has a fifty day moving average price of $42.86 and a 200 day moving average price of $45.37.

Bank of New York Mellon (NYSE:BKGet Rating) last announced its earnings results on Friday, July 15th. The bank reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.09). The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.17 billion. Bank of New York Mellon had a return on equity of 9.49% and a net margin of 20.61%. Bank of New York Mellon’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 earnings per share. Research analysts predict that The Bank of New York Mellon Co. will post 4.22 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Monday, July 25th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, July 22nd. Bank of New York Mellon’s dividend payout ratio is currently 37.56%.

Analyst Upgrades and Downgrades

BK has been the subject of several recent research reports. Piper Sandler dropped their target price on shares of Bank of New York Mellon from $54.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday, June 24th. Barclays set a $61.00 target price on shares of Bank of New York Mellon in a research report on Tuesday, July 19th. Credit Suisse Group lowered their price objective on shares of Bank of New York Mellon from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, July 19th. UBS Group lowered their price objective on shares of Bank of New York Mellon from $56.00 to $52.00 in a research report on Monday, July 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Bank of New York Mellon from $57.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, July 1st. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.73.

Bank of New York Mellon Profile

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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, prime brokerage, and data analytics.

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

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