The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by ING Groep NV

ING Groep NV cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 36.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,749 shares of the bank's stock after selling 4,495 shares during the period. ING Groep NV's holdings in Bank of New York Mellon were worth $595,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BK. FMR LLC raised its position in shares of Bank of New York Mellon by 78.6% during the 3rd 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 in the last quarter. Wellington Management Group LLP increased its stake in 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. Zacks Investment Management purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $62,589,000. 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 valued at $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Bank of New York Mellon by 248.3% in the 3rd quarter. National Bank of Canada FI now owns 858,831 shares of the bank's stock worth $61,715,000 after purchasing an additional 612,287 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial increased their price target on Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Morgan Stanley raised 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. UBS Group upped their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Bank of America raised their price objective 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. 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 research report on Thursday, January 16th. Six investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Bank of New York Mellon Stock Up 2.3 %

Shares of BK traded up $1.97 during midday trading on Friday, reaching $88.86. 7,187,969 shares of the stock were exchanged, compared to its average volume of 4,200,285. 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 company's 50 day moving average is $82.80 and its two-hundred day moving average is $76.93. The company has a market capitalization of $64.60 billion, a P/E ratio of 15.29, a PEG ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly 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 net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the business posted $1.28 EPS. The company's quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side 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 business also recently announced 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. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.12%. 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.