The Bank of New York Mellon Co. (NYSE:BK) Stake Cut by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 24.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,527 shares of the bank’s stock after selling 51,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bank of New York Mellon were worth $11,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. increased its stake in Bank of New York Mellon by 95.4% in the 3rd quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock valued at $120,000 after buying an additional 817 shares during the period. Private Advisor Group LLC grew its holdings in shares of Bank of New York Mellon by 4.0% during the 3rd quarter. Private Advisor Group LLC now owns 53,646 shares of the bank’s stock valued at $3,855,000 after acquiring an additional 2,062 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of Bank of New York Mellon by 11.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 5,228 shares of the bank’s stock valued at $376,000 after acquiring an additional 530 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Bank of New York Mellon by 10.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,652 shares of the bank’s stock worth $8,722,000 after acquiring an additional 11,325 shares in the last quarter. Finally, Forsta AP Fonden raised its holdings in shares of Bank of New York Mellon by 5.2% during the third quarter. Forsta AP Fonden now owns 232,200 shares of the bank’s stock worth $16,686,000 after acquiring an additional 11,500 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE BK opened at $87.29 on Monday. The stock has a 50-day simple moving average of $82.04 and a 200 day simple moving average of $76.46. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44. The stock has a market capitalization of $63.46 billion, a PE ratio of 15.02, a P/E/G ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during 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 company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. Research analysts anticipate that The Bank of New York Mellon Co. will post 6.94 EPS for the current 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 given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

Several brokerages have 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 stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. UBS Group lifted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Barclays boosted 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 report on Thursday, January 16th. Finally, Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.