The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,992 shares of the bank’s stock after selling 2,056 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Bank of New York Mellon were worth $922,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BK. Cape Investment Advisory Inc. raised its position in Bank of New York Mellon by 12.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after purchasing an additional 133 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock valued at $60,000 after purchasing an additional 135 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Bank of New York Mellon by 1.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after buying an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC grew its position in Bank of New York Mellon by 2.9% during the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after buying an additional 142 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Down 2.1 %

Shares of Bank of New York Mellon stock opened at $82.67 on Friday. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-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 stock has a market cap of $59.35 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06. The stock’s 50 day simple moving average is $85.34 and its 200-day simple moving average is $79.61.

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

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 yield of 2.27%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. 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. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial increased their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.71.

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.