The Bank of New York Mellon Co. (NYSE:BK) Stock Position Trimmed by AIA Group Ltd

AIA Group Ltd lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 32.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,024 shares of the bank’s stock after selling 10,098 shares during the quarter. AIA Group Ltd’s holdings in Bank of New York Mellon were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BK. Czech National Bank lifted its stake in shares of Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after acquiring an additional 7,316 shares during the period. HighTower Advisors LLC raised its holdings in Bank of New York Mellon by 130.1% during the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after purchasing an additional 184,560 shares in the last quarter. Fifth Third Bancorp boosted its stake in Bank of New York Mellon by 9.2% during the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock valued at $7,226,000 after purchasing an additional 7,935 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock valued at $21,971,000 after purchasing an additional 17,457 shares during the period. Finally, Western Financial Corp CA bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth $342,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.6 %

NYSE:BK opened at $84.00 on Tuesday. The stock’s 50-day moving average is $85.35 and its two-hundred day moving average is $79.80. 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 stock has a market cap of $60.31 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34.

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 analysts’ consensus estimates 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 firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued 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 2.24%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Wall Street Analysts Forecast Growth

BK has been the subject of several research reports. Evercore ISI raised their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. 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. Truist Financial boosted their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Finally, Bank of America upped their price target 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.71.

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.