The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group trimmed its position in The Bank of New York Mellon Co. (NYSE:BK) by 21.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 920,117 shares of the bank’s stock after selling 258,023 shares during the quarter. Schroder Investment Management Group owned approximately 0.13% of Bank of New York Mellon worth $70,693,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BK. Norges Bank acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $1,150,462,000. Wellington Management Group LLP boosted its holdings 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 valued at $234,189,000 after buying an additional 3,142,869 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $90,955,000. Arrowstreet Capital Limited Partnership grew its position in shares of Bank of New York Mellon by 17.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after buying an additional 1,125,493 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in Bank of New York Mellon during the 3rd quarter worth $62,589,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.6 %

Shares of Bank of New York Mellon stock opened at $84.00 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $60.31 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The company’s 50-day simple moving average is $85.35 and its 200-day simple moving average is $79.80.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. As a group, equities research 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Analyst Ratings Changes

BK has been the subject of several research analyst reports. Barclays upped 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 note on Thursday, January 16th. Wells Fargo & Company upped their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. UBS Group lifted their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.71.

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.