Bank of New York Mellon Corp Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Bank of New York Mellon Corp lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,177,398 shares of the bank's stock after selling 207,325 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.57% of Bank of New York Mellon worth $320,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. State Street Corp boosted its position in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank's stock valued at $2,393,915,000 after purchasing an additional 659,096 shares during the period. FMR LLC lifted its stake in 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 buying an additional 8,512,404 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Bank of New York Mellon by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank's stock valued at $476,726,000 after acquiring an additional 117,974 shares during the period. Wellington Management Group LLP grew its position in shares of Bank of New York Mellon by 2,707.1% during the third 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 during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Bank of New York Mellon by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank's stock valued at $172,348,000 after acquiring an additional 173,347 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded up $1.97 on Friday, reaching $88.86. 7,187,969 shares of the company were exchanged, compared to its average volume of 4,209,997. The company has a 50-day moving average of $83.02 and a 200-day moving average of $77.21. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $64.60 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $89.44.

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 for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the business posted $1.28 earnings per share. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's payout ratio is currently 32.36%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Wolfe Research lowered Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Evercore ISI boosted their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an "in-line" 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. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

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.