Voya Investment Management LLC Sells 108,819 Shares of The Bank of New York Mellon Corporation $BK

Voya Investment Management LLC trimmed its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 7.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378,142 shares of the bank’s stock after selling 108,819 shares during the quarter. Voya Investment Management LLC owned about 0.19% of Bank of New York Mellon worth $115,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of BK. Nuveen LLC bought a new position in shares of Bank of New York Mellon in the 1st quarter worth about $773,627,000. GAMMA Investing LLC increased its stake in Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank’s stock valued at $117,414,000 after purchasing an additional 1,385,434 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Bank of New York Mellon during the 1st quarter valued at about $92,502,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Bank of New York Mellon by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,689,477 shares of the bank’s stock valued at $590,783,000 after purchasing an additional 1,055,389 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BK shares. Truist Financial raised their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a research note on Thursday, August 14th. Citigroup raised their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $96.62.

Bank of New York Mellon Stock Performance

BK opened at $106.46 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market cap of $75.08 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.00 and a beta of 1.14. The company’s 50 day moving average is $101.15 and its 200 day moving average is $90.49. The Bank of New York Mellon Corporation has a 12-month low of $68.51 and a 12-month high of $106.57.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 earnings per share. On average, equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, July 25th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s payout ratio is 32.37%.

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.