Meeder Advisory Services Inc. Sells 658 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Meeder Advisory Services Inc. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,028 shares of the bank’s stock after selling 658 shares during the period. Meeder Advisory Services Inc.’s holdings in Bank of New York Mellon were worth $1,308,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Czech National Bank increased its position in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares during the last quarter. HighTower Advisors LLC raised its position in Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after acquiring an additional 184,560 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Bank of New York Mellon by 11.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock valued at $60,426,000 after acquiring an additional 82,671 shares during the last quarter. Fifth Third Bancorp grew its position in shares of 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 acquiring an additional 7,935 shares during the period. Finally, Natixis Advisors LLC increased its position in Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after buying an additional 17,457 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BK has been the topic of several recent research reports. Morgan Stanley dropped their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Barclays raised their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, UBS Group lifted their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $90.07.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $84.33 on Thursday. The stock has a market capitalization of $60.55 billion, a P/E ratio of 14.51, 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. 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 business’s 50 day simple moving average is $85.33 and its two-hundred day simple moving average is $79.94.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. Analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.23%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

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.