The Bank of New York Mellon Co. (NYSE:BK) Position Reduced by Westchester Capital Management Inc.

Westchester Capital Management Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,932 shares of the bank’s stock after selling 7,041 shares during the period. Bank of New York Mellon makes up about 3.6% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 13th largest holding. Westchester Capital Management Inc.’s holdings in Bank of New York Mellon were worth $14,131,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BK. State Street Corp grew its position in Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. FMR LLC grew its position 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. Amundi grew its holdings 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of 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 valued at $476,726,000 after acquiring an additional 117,974 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $81.04 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $58.18 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The firm’s 50-day moving average price is $84.08 and its two-hundred day moving average price is $78.27.

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 business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the firm earned $1.28 earnings per share. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. On average, equities 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.32%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup upped 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. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $88.71.

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.