The Bank of New York Mellon Co. (NYSE:BK) Stock Position Reduced by Qtron Investments LLC

Qtron Investments LLC decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 22.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,047 shares of the bank’s stock after selling 4,965 shares during the quarter. Qtron Investments LLC’s holdings in Bank of New York Mellon were worth $1,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its position in shares of Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares during the last quarter. Norges Bank acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $1,150,462,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after purchasing an additional 1,125,493 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Bank of New York Mellon by 2.4% during the 4th quarter. Invesco Ltd. now owns 7,596,210 shares of the bank’s stock worth $583,617,000 after acquiring an additional 175,704 shares during the period. Finally, Amundi boosted its holdings in Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after purchasing an additional 359,942 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on BK. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday, April 1st. Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on 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. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.86.

Bank of New York Mellon Stock Performance

Shares of BK opened at $77.75 on Friday. 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 firm has a 50-day moving average of $83.63 and a 200-day moving average of $80.18. The company has a market cap of $55.82 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. As a group, equities analysts forecast 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 firm also recently disclosed 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 of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. 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.