The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Aspire Private Capital LLC

Aspire Private Capital LLC lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,655 shares of the bank's stock after selling 6,672 shares during the quarter. Aspire Private Capital LLC's holdings in Bank of New York Mellon were worth $1,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BK. FMR LLC lifted its stake in shares of Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank's stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the period. Wellington Management Group LLP boosted its stake in shares of Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock worth $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock worth $157,583,000 after acquiring an additional 1,311,969 shares during the period. Zacks Investment Management purchased a new position in Bank of New York Mellon in the 3rd quarter valued at approximately $62,589,000. Finally, State Street Corp raised its holdings in Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank's stock worth $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on BK. Royal Bank of Canada restated a "sector perform" rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. UBS Group boosted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Bank of America raised their price target on shares of 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. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Bank of New York Mellon Trading Down 0.7 %

Shares of NYSE BK traded down $0.60 during midday trading on Wednesday, hitting $84.34. The stock had a trading volume of 2,340,925 shares, compared to its average volume of 4,330,769. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $85.81. The company has a market capitalization of $61.32 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.95 and a beta of 1.08. The company has a fifty day moving average price of $79.10 and a 200 day moving average price of $72.74.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. On average, analysts predict that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon's payout ratio is 32.36%.

About Bank of New York Mellon

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.