New York Life Investment Management LLC Sells 1,351 Shares of The Bank of New York Mellon Co. (NYSE:BK)

New York Life Investment Management LLC trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter worth about $39,000. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon in the third quarter valued at about $46,000. Modus Advisors LLC bought a new position in Bank of New York Mellon during the 4th quarter worth $49,000. Friedenthal Financial acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $56,000. Finally, Asset Dedication LLC boosted its stake in shares of Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after purchasing an additional 585 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 0.7 %

Shares of NYSE:BK opened at $86.97 on Friday. The firm has a market capitalization 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 1 year low of $52.64 and a 1 year high of $89.44. 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 business’s 50-day moving average is $82.80 and its 200 day moving average is $76.93.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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 business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $1.28 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, research analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.16%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial upped their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays upped their target price 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. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price 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.