UniSuper Management Pty Ltd Decreases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

UniSuper Management Pty Ltd reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 71.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,531 shares of the bank's stock after selling 137,345 shares during the quarter. UniSuper Management Pty Ltd's holdings in Bank of New York Mellon were worth $4,266,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Graney & King LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $35,000. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $39,000. TCTC Holdings LLC raised its holdings in Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after acquiring an additional 430 shares in the last quarter. Modus Advisors LLC bought a new position in Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $56,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK stock traded up $0.12 during midday trading on Wednesday, hitting $83.89. 671,207 shares of the company traded hands, compared to its average volume of 3,888,862. The stock has a market capitalization of $60.23 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The business has a 50 day simple moving average of $85.33 and a 200-day simple moving average of $79.90. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

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Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data 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. 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 the consensus estimate of $4.66 billion. During the same quarter last year, the business posted $1.28 EPS. Bank of New York Mellon's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research 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 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. This represents a $1.88 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's dividend payout ratio is currently 32.36%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BK. Barclays raised their target price on shares of 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. Citigroup upped their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Bank of America boosted 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 report on Thursday, January 16th. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods boosted 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.00.

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.