Russell Investments Group Ltd. Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Russell Investments Group Ltd. lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 837,513 shares of the bank’s stock after selling 19,397 shares during the period. Russell Investments Group Ltd.’s holdings in Bank of New York Mellon were worth $64,416,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Bank of New York Mellon during the 4th quarter worth $1,150,462,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Bank of New York Mellon by 17.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. Amundi increased its position in shares of Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock worth $573,947,000 after acquiring an additional 359,942 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Bank of New York Mellon by 2.0% in the fourth quarter. Franklin Resources Inc. now owns 2,297,463 shares of the bank’s stock valued at $176,514,000 after purchasing an additional 44,734 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK stock opened at $73.17 on Monday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a market capitalization of $52.53 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock’s fifty day moving average is $84.98 and its two-hundred day moving average is $80.08.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.66 billion. During the same period in the previous year, the business posted $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. On average, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS 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. Investors 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 2.57%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Wall Street Analyst Weigh In

BK has been the topic of several analyst reports. Morgan Stanley dropped their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Evercore ISI upped their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a report on Tuesday, April 1st. Bank of America raised 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 report on Thursday, January 16th. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.86.

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.