Robeco Institutional Asset Management B.V. Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Robeco Institutional Asset Management B.V. decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,921,432 shares of the bank's stock after selling 293,394 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.26% of Bank of New York Mellon worth $147,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BK. FMR LLC lifted its holdings in Bank of New York Mellon by 78.6% during 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 in the last quarter. Wellington Management Group LLP lifted its holdings 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 valued at $234,189,000 after purchasing an additional 3,142,869 shares in the last quarter. Zacks Investment Management purchased a new position in Bank of New York Mellon during the third quarter valued at approximately $62,589,000. State Street Corp lifted 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 in the last quarter. Finally, National Bank of Canada FI increased its holdings in 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 valued at $61,715,000 after acquiring an additional 612,287 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.6 %

Shares of BK traded down $0.49 during midday trading on Friday, reaching $86.01. 3,905,697 shares of the stock were exchanged, compared to its average volume of 3,812,559. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $87.70. 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 $80.29 and its two-hundred day moving average is $73.91. The company has a market capitalization of $62.53 billion, a P/E ratio of 14.80, a PEG ratio of 0.98 and a beta of 1.08.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The business's 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 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon's payout ratio is 32.36%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Morgan Stanley boosted 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 report on Thursday, January 16th. Citigroup boosted their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. UBS Group boosted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, Barclays boosted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.00.

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.