AIA Group Ltd Trims Stake in The Bank of New York Mellon Co. (NYSE:BK)

AIA Group Ltd cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 32.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,024 shares of the bank's stock after selling 10,098 shares during the period. AIA Group Ltd's holdings in Bank of New York Mellon were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Graney & King LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $35,000. Centricity Wealth Management LLC acquired a new stake in Bank of New York Mellon during the fourth quarter valued at $39,000. TCTC Holdings LLC increased its holdings in Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after buying an additional 430 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth about $49,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth about $56,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BK shares. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Evercore ISI increased their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday. Barclays boosted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average target price of $90.07.

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Bank of New York Mellon Price Performance

Shares of BK stock traded down $4.33 during trading hours on Thursday, reaching $79.89. The company had a trading volume of 5,261,860 shares, compared to its average volume of 3,908,484. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company has a market capitalization of $57.36 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.97 and a beta of 1.03. The stock has a fifty day moving average of $85.33 and a 200-day moving average of $79.94.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the prior year, the business earned $1.28 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

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.