The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 324,446 shares of the bank’s stock after selling 165 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Bank of New York Mellon were worth $24,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp grew its stake 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 worth $2,393,915,000 after purchasing an additional 659,096 shares during the period. FMR LLC boosted its position in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after buying an additional 8,512,404 shares in the last quarter. Amundi boosted its position in shares of Bank of New York Mellon by 5.1% in the 4th quarter. Amundi now owns 7,363,015 shares of the bank’s stock worth $573,947,000 after buying an additional 359,942 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Bank of New York Mellon by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock worth $476,726,000 after buying an additional 117,974 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of 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 worth $234,189,000 after buying an additional 3,142,869 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Citigroup boosted their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

Bank of New York Mellon Trading Down 0.6 %

NYSE BK opened at $83.46 on Friday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The company has a 50-day moving average of $84.88 and a 200-day moving average of $78.94. 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 company has a market cap of $59.92 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last posted 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $1.28 EPS. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share 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 paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Bank of New York Mellon Company Profile

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.