LGT Group Foundation Sells 47,435 Shares of The Bank of New York Mellon Co. (NYSE:BK)

LGT Group Foundation lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 165,459 shares of the bank's stock after selling 47,435 shares during the period. LGT Group Foundation's holdings in Bank of New York Mellon were worth $12,712,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings 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 acquiring an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP raised its holdings in 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 purchasing an additional 3,142,869 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $62,589,000. State Street Corp boosted 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 increased its position in shares of Bank of New York Mellon by 248.3% during the third quarter. National Bank of Canada FI now owns 858,831 shares of the bank's stock worth $61,715,000 after buying an additional 612,287 shares during the period. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.7 %

Shares of Bank of New York Mellon stock traded down $0.63 during trading hours on Monday, reaching $88.32. The company's stock had a trading volume of 4,374,784 shares, compared to its average volume of 4,214,189. The company has a market capitalization of $64.22 billion, a P/E ratio of 15.20, a P/E/G ratio of 0.97 and a beta of 1.08. The stock's fifty day simple moving average is $83.02 and its two-hundred day simple moving average is $77.30. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 EPS. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. Bank of New York Mellon's payout ratio is 32.36%.

Analyst Ratings Changes

BK has been the topic of several recent analyst reports. Evercore ISI boosted their target price on shares of 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. Deutsche Bank Aktiengesellschaft boosted 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. Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.71.

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.