South Dakota Investment Council Lowers Position in The Bank of New York Mellon Co. (NYSE:BK)

South Dakota Investment Council trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,002 shares of the bank's stock after selling 19,376 shares during the period. South Dakota Investment Council's holdings in Bank of New York Mellon were worth $10,987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Howard Capital Management Inc. increased its holdings in shares of Bank of New York Mellon by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,936 shares of the bank's stock worth $379,000 after buying an additional 252 shares during the last quarter. Wealthspire Advisors LLC grew its position in Bank of New York Mellon by 1.0% in the fourth quarter. Wealthspire Advisors LLC now owns 14,740 shares of the bank's stock worth $1,132,000 after acquiring an additional 144 shares in the last quarter. Tradewinds Capital Management LLC increased its stake in Bank of New York Mellon by 4,339.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 4,439 shares of the bank's stock valued at $341,000 after acquiring an additional 4,339 shares during the last quarter. Fisher Funds Management LTD purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $10,390,000. Finally, Sigma Planning Corp raised its position in Bank of New York Mellon by 7.2% during the fourth quarter. Sigma Planning Corp now owns 5,862 shares of the bank's stock valued at $450,000 after purchasing an additional 392 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 0.6 %

NYSE:BK traded down $0.52 during mid-day trading on Wednesday, reaching $86.23. 3,709,639 shares of the company's stock traded hands, compared to its average volume of 4,159,996. The company has a 50 day moving average price of $82.38 and a 200-day moving average price of $76.80. The firm has a market capitalization of $62.70 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The business's revenue was up 11.2% compared to the same quarter last year. On average, 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 $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.18%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BK. Deutsche Bank Aktiengesellschaft increased 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 report on Thursday, January 16th. Morgan Stanley increased their price target on shares of 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. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an "in-line" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Finally, Wolfe Research cut shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus target price 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.