The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Korea Investment CORP

Korea Investment CORP cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 12.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 626,060 shares of the bank's stock after selling 89,585 shares during the period. Korea Investment CORP owned about 0.09% of Bank of New York Mellon worth $48,100,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BK. State Street Corp grew 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 valued at $2,393,915,000 after purchasing an additional 659,096 shares during the period. Amundi lifted its stake 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 worth $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 lifted its position 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 worth $476,726,000 after buying an additional 117,974 shares in the last quarter. Wellington Management Group LLP boosted its position 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 valued at $234,189,000 after acquiring an additional 3,142,869 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake 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 worth $172,348,000 after buying an additional 173,347 shares in the last quarter. Institutional investors own 85.31% of the company's stock.

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Bank of New York Mellon Stock Performance

BK traded down $0.13 during midday trading on Tuesday, hitting $83.74. 2,881,911 shares of the company were exchanged, compared to its average volume of 3,901,400. The firm has a market capitalization of $60.12 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. 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's 50 day simple moving average is $85.33 and its 200 day simple moving average is $79.90. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

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 for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 earnings per share. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's payout ratio is 32.36%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BK. Evercore ISI raised their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday. Truist Financial raised their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" 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 research report on Wednesday, February 19th. Finally, Morgan Stanley upped their price target on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

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.