Jupiter Asset Management Ltd. Decreases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Jupiter Asset Management Ltd. reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 70.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,384 shares of the bank’s stock after selling 558,810 shares during the period. Jupiter Asset Management Ltd.’s holdings in The Bank of New York Mellon were worth $11,320,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC purchased a new stake in shares of The Bank of New York Mellon during the 4th quarter worth $26,000. RWM Asset Management LLC purchased a new stake in shares of The Bank of New York Mellon during the 4th quarter worth $30,000. CVA Family Office LLC purchased a new stake in shares of The Bank of New York Mellon during the 1st quarter worth $34,000. Valley Brook Capital Group purchased a new stake in shares of The Bank of New York Mellon during the 4th quarter worth $42,000. Finally, Cranbrook Wealth Management LLC purchased a new stake in shares of The Bank of New York Mellon during the 1st quarter worth $43,000. 82.08% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of The Bank of New York Mellon from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, April 19th. Barclays boosted their price target on shares of The Bank of New York Mellon from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, April 7th. Citigroup reduced their price target on shares of The Bank of New York Mellon from $58.00 to $56.00 in a research report on Wednesday, April 21st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reduced their price target on shares of The Bank of New York Mellon from $58.00 to $56.00 in a research report on Wednesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of The Bank of New York Mellon from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, April 9th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $50.00.

In related news, EVP J Kevin Mccarthy sold 12,500 shares of the business’s stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $51.65, for a total transaction of $645,625.00. Following the sale, the executive vice president now owns 102,214 shares of the company’s stock, valued at $5,279,353.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 10,878 shares of the business’s stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $46.89, for a total transaction of $510,069.42. Following the sale, the insider now directly owns 25,034 shares in the company, valued at approximately $1,173,844.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,378 shares of company stock worth $2,793,344. Company insiders own 0.12% of the company’s stock.

Shares of The Bank of New York Mellon stock opened at $49.87 on Friday. The Bank of New York Mellon Co. has a 52-week low of $32.65 and a 52-week high of $52.90. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $50.03. The firm has a market capitalization of $43.66 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09.

The Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Thursday, April 15th. The bank reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.10. The Bank of New York Mellon had a net margin of 22.24% and a return on equity of 9.19%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business posted $1.05 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. Equities analysts forecast that The Bank of New York Mellon Co. will post 4.06 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 11th. Stockholders of record on Wednesday, April 28th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, April 27th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.49%. The Bank of New York Mellon’s dividend payout ratio (DPR) is 30.92%.

The 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 three segments: Investment Services, Investment and Wealth Management, and Other. The Investment Service segment offers custody, trust and depositary, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, investment, wealth and retirement solutions, technology and enterprise data management, trading, corporate trust, depositary receipts, payments, foreign exchange, liquidity management, receivables processing and payables management, trade finance and processing, collateral management, and tri-party services.

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

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