American Century Companies Inc. Sells 1,803,378 Shares of The Bank of New York Mellon Co. (NYSE:BK)

American Century Companies Inc. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 27.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,740,530 shares of the bank’s stock after selling 1,803,378 shares during the quarter. American Century Companies Inc. owned 0.65% of Bank of New York Mellon worth $364,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of 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 valued at $1,389,680,000 after buying an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP lifted its position 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 buying an additional 3,142,869 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $90,955,000. Zacks Investment Management purchased a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $62,589,000. Finally, State Street Corp lifted its position in shares of 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 valued at $2,393,915,000 after buying an additional 659,096 shares during 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 $83.46 on Friday. 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 firm has a market capitalization of $59.92 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The business’s 50-day moving average price is $84.88 and its 200-day moving average price is $78.94. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month 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 the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for 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 revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.28 EPS. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS 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. Stockholders 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 2.25%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Ratings Changes

A number of research analysts have recently commented on BK shares. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Barclays increased their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Evercore ISI increased their price objective on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Truist Financial increased their price objective on 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. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

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.