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

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 24.8% in the fourth quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $39,000. Fortitude Family Office LLC raised its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $46,000. Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $49,000. Finally, Concord Wealth Partners grew its position in Bank of New York Mellon by 150.5% in the third quarter. Concord Wealth Partners now owns 754 shares of the bank’s stock valued at $54,000 after acquiring an additional 453 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.1 %

Shares of NYSE:BK opened at $87.29 on Monday. The company has a 50 day moving average of $82.04 and a 200-day moving average of $76.46. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44. The stock has a market cap of $63.46 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.98 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.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 EPS. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.94 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. Investors 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 dividend on an annualized basis and a yield of 2.15%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of analyst reports. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Morgan Stanley lifted 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 report on Thursday, January 16th. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Truist Financial raised their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, UBS Group boosted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon 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.