Artisan Partners Limited Partnership Sells 388,231 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Artisan Partners Limited Partnership lowered its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,973,876 shares of the bank's stock after selling 388,231 shares during the quarter. Bank of New York Mellon comprises about 1.8% of Artisan Partners Limited Partnership's portfolio, making the stock its 7th largest position. Artisan Partners Limited Partnership owned 2.20% of Bank of New York Mellon worth $1,227,273,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BK. Graney & King LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $35,000. Centricity Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $39,000. TCTC Holdings LLC grew its holdings in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after purchasing an additional 430 shares during the last quarter. Modus Advisors LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth about $49,000. Finally, Friedenthal Financial bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $56,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 0.3 %

Shares of Bank of New York Mellon stock traded up $0.26 during trading on Monday, reaching $82.97. The company's stock had a trading volume of 894,998 shares, compared to its average volume of 4,261,505. The company has a 50-day simple moving average of $85.34 and a two-hundred day simple moving average of $79.69. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The company has a market cap of $59.57 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

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Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping 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 business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company earned $1.28 earnings per share. The company's quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast 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 business also recently declared 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. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.27%. Bank of New York Mellon's payout ratio is 32.36%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BK. Citigroup raised their target price on shares of 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. Wolfe Research lowered Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Evercore ISI increased their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an "in-line" rating in a research report on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley increased their target price on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $89.71.

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.