Plato Investment Management Ltd Sells 5,767 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Plato Investment Management Ltd lowered its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 8.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,646 shares of the bank's stock after selling 5,767 shares during the period. Plato Investment Management Ltd's holdings in Bank of New York Mellon were worth $4,676,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter valued at $39,000. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $46,000. Modus Advisors LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth approximately $49,000. Friedenthal Financial bought a new stake in Bank of New York Mellon in the fourth quarter worth approximately $56,000. Finally, Asset Dedication LLC lifted its stake in Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank's stock valued at $58,000 after buying an additional 585 shares during the period. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on BK. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Morgan Stanley raised their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Bank of America upped their price target on 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. Wells Fargo & Company raised their price objective 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. Finally, Wolfe Research downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.71.

Bank of New York Mellon Stock Performance

BK traded down $0.63 during trading on Monday, hitting $88.32. 4,374,784 shares of the company traded hands, compared to its average volume of 4,214,189. The firm has a market cap of $64.22 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The stock's fifty day moving average is $83.02 and its 200 day moving average is $77.30.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $1.28 EPS. Bank of New York Mellon's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. 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 presently 32.36%.

Bank of New York Mellon Company 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.