The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 12.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 273,271 shares of the bank’s stock after selling 40,589 shares during the quarter. Achmea Investment Management B.V.’s holdings in Bank of New York Mellon were worth $20,996,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BK. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $39,000. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the 3rd quarter worth $46,000. Modus Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $49,000. Friedenthal Financial acquired a new position in Bank of New York Mellon during the 4th quarter worth $56,000. Finally, Asset Dedication LLC grew its holdings in Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BK shares. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Citigroup lifted their price target on shares of 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. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Morgan Stanley lifted their price target on shares of 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. Finally, Bank of America lifted their price target on shares of 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 research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Trading Down 0.4 %

Shares of NYSE:BK opened at $80.70 on Thursday. The company has a market cap of $57.94 billion, a PE ratio of 13.89, a P/E/G ratio of 0.97 and a beta of 1.06. The company’s 50-day moving average price is $84.16 and its 200 day moving average price is $78.28. 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. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $1.28 EPS. Bank of New York Mellon’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.33%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Bank of New York Mellon 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.