The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 5.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,849 shares of the bank’s stock after selling 892 shares during the period. Mount Lucas Management LP’s holdings in Bank of New York Mellon were worth $1,218,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Sound View Wealth Advisors Group LLC raised its position in shares of Bank of New York Mellon by 18.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 4,486 shares of the bank’s stock valued at $345,000 after acquiring an additional 700 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $1,196,000. OFI Invest Asset Management acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $2,132,000. Personal CFO Solutions LLC raised its position in shares of Bank of New York Mellon by 48.7% during the 4th quarter. Personal CFO Solutions LLC now owns 6,910 shares of the bank’s stock valued at $531,000 after acquiring an additional 2,263 shares in the last quarter. Finally, Amundi raised its position in shares of Bank of New York Mellon by 5.1% during the 4th quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after acquiring an additional 359,942 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 1.5 %

BK opened at $85.98 on Monday. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The business has a 50-day moving average of $83.85 and a 200-day moving average of $78.03. 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 company has a market capitalization of $61.73 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 EPS. Equities research analysts forecast 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 2.19%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of several research reports. UBS Group upped their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley upped their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. 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 has an average rating of “Moderate Buy” and an average price target of $88.71.

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.