The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Lowered by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,041 shares of the bank’s stock after selling 1,404 shares during the period. Hartford Investment Management Co.’s holdings in Bank of New York Mellon were worth $3,460,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. lifted its stake in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares in the last quarter. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the fourth quarter valued at $49,000. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the third quarter valued at $46,000. Finally, Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.2 %

NYSE:BK opened at $85.30 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $80.87 and its 200-day moving average is $75.11. The firm has a market cap of $62.02 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $87.70.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping 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 quarter in the previous year, the business earned $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. Equities analysts anticipate that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced 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 2.20%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BK. Morgan Stanley upped their target price on 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. Barclays upped their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI lifted their price objective on 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. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company lifted their price target on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $88.00.

About Bank of New York Mellon

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.