The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 8,994 shares of the bank’s stock after selling 308 shares during the period. Foundations Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $691,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in shares of Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after acquiring an additional 8,512,404 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares in the last quarter. Zacks Investment Management acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth about $62,589,000. State Street Corp grew its holdings in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after buying an additional 659,096 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Bank of New York Mellon by 248.3% in the third quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock valued at $61,715,000 after buying an additional 612,287 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.2 %

Shares of NYSE BK opened at $86.14 on Thursday. The stock has a fifty day moving average price of $79.85 and a 200 day moving average price of $73.59. The company has a market cap of $62.63 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.96 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. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its 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. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate 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 revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. Research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Upgrades and Downgrades

BK has been the subject of several recent analyst reports. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. UBS Group raised their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. 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 note on Thursday, January 16th. Finally, Barclays raised 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. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.