The Bank of New York Mellon Co. (NYSE:BK) Stock Position Decreased by Impax Asset Management Group plc

Impax Asset Management Group plc cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,048 shares of the bank’s stock after selling 510 shares during the period. Impax Asset Management Group plc’s holdings in Bank of New York Mellon were worth $3,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. IFP Advisors Inc increased its holdings in shares of Bank of New York Mellon by 42.4% during the 4th quarter. IFP Advisors Inc now owns 5,196 shares of the bank’s stock valued at $399,000 after acquiring an additional 1,547 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $1,246,000. Howard Capital Management Inc. increased its holdings in shares of Bank of New York Mellon by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,936 shares of the bank’s stock valued at $379,000 after acquiring an additional 252 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Bank of New York Mellon by 1.0% during the 4th quarter. Wealthspire Advisors LLC now owns 14,740 shares of the bank’s stock valued at $1,132,000 after acquiring an additional 144 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased its holdings in shares of Bank of New York Mellon by 4,339.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 4,439 shares of the bank’s stock valued at $341,000 after acquiring an additional 4,339 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $86.70 on Wednesday. The stock has a 50 day moving average of $82.38 and a two-hundred day moving average of $76.80. 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 Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $89.44. The company has a market capitalization of $63.04 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.97 and a beta of 1.08.

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, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given 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 2.17%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Ratings Changes

A number of brokerages have recently commented on BK. Morgan Stanley increased their price objective 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. Bank of America increased their price objective on 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. Wells Fargo & Company raised their target price 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. Citigroup raised their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods raised their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.