Fjarde AP Fonden Fourth Swedish National Pension Fund Has $11.95 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 155,527 shares of the bank's stock after selling 51,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Bank of New York Mellon were worth $11,949,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Studio Investment Management LLC lifted its holdings in shares of Bank of New York Mellon by 2.1% in the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock valued at $477,000 after buying an additional 134 shares during the period. Grove Bank & Trust lifted its holdings in shares of Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank's stock valued at $60,000 after buying an additional 135 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock valued at $505,000 after purchasing an additional 137 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 1.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock valued at $695,000 after purchasing an additional 139 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock valued at $928,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 0.7 %

BK stock traded up $0.63 during mid-day trading on Thursday, hitting $86.97. The stock had a trading volume of 3,079,092 shares, compared to its average volume of 4,131,565. 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 Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $89.44. The company has a fifty day moving average of $82.59 and a 200 day moving average of $76.86. The stock has a market capitalization of $63.23 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping 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 company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm posted $1.28 EPS. The business's revenue was up 11.2% compared to the same quarter last year. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio is 32.36%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BK. Barclays upped their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on 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. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Morgan Stanley upped their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Finally, Citigroup upped their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Bank of New York Mellon 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.