The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 108,053 shares of the bank’s stock after selling 1,351 shares during the quarter. New York Life Investment Management LLC’s holdings in Bank of New York Mellon were worth $8,302,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its position in Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after acquiring an additional 659,096 shares in the last quarter. FMR LLC grew its stake in Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Bank of New York Mellon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock worth $476,726,000 after purchasing an additional 117,974 shares during the period. Wellington Management Group LLP raised its position in Bank of New York Mellon by 2,707.1% in the 3rd 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. Finally, Franklin Resources Inc. boosted its stake in shares of Bank of New York Mellon by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock valued at $172,348,000 after buying an additional 173,347 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Citigroup increased their price objective on shares of 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. Bank of America lifted their price objective on shares of 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. UBS Group increased their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $86.97 on Friday. The stock has a market cap of $63.23 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44. The stock has a 50 day moving average of $82.80 and a two-hundred day moving average of $76.93. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts forecast 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 firm 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. This represents a $1.88 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.