The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 191.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,687 shares of the bank's stock after purchasing an additional 81,896 shares during the period. Citizens Financial Group Inc. RI's holdings in Bank of New York Mellon were worth $9,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its stake 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 worth $2,393,915,000 after acquiring an additional 659,096 shares during the period. FMR LLC lifted its position 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 purchasing an additional 8,512,404 shares during the period. Amundi boosted its holdings in Bank of New York Mellon by 5.1% in the 4th quarter. Amundi now owns 7,363,015 shares of the bank's stock valued at $573,947,000 after purchasing an additional 359,942 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Bank of New York Mellon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank's stock worth $476,726,000 after purchasing an additional 117,974 shares during the period. Finally, Wellington Management Group LLP raised 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 buying an additional 3,142,869 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

BK has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Bank of America raised their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Finally, StockNews.com downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.71.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.05 during trading hours on Wednesday, reaching $81.00. 3,038,680 shares of the company traded hands, compared to its average volume of 4,354,817. The stock has a market capitalization of $58.15 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The stock has a fifty day simple moving average of $84.08 and a 200 day simple moving average of $78.27. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 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 firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.32%. 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%.

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.