First Eagle Investment Management LLC Sells 1,672,995 Shares of The Bank of New York Mellon Co. (NYSE:BK)

First Eagle Investment Management LLC decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 10.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,024,061 shares of the bank’s stock after selling 1,672,995 shares during the period. Bank of New York Mellon makes up about 2.4% of First Eagle Investment Management LLC’s portfolio, making the stock its 13th biggest position. First Eagle Investment Management LLC owned about 1.93% of Bank of New York Mellon worth $1,077,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BK. Assetmark Inc. grew its position in Bank of New York Mellon by 64.7% during the 3rd quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock worth $134,000 after acquiring an additional 734 shares during the last quarter. Sigma Planning Corp grew its position in Bank of New York Mellon by 2.7% during the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after acquiring an additional 143 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Bank of New York Mellon during the 3rd quarter worth $46,000. Venturi Wealth Management LLC grew its position in Bank of New York Mellon by 21.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,147 shares of the bank’s stock worth $82,000 after acquiring an additional 203 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its position in Bank of New York Mellon by 17.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 10,175 shares of the bank’s stock worth $731,000 after acquiring an additional 1,524 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 1.5 %

BK stock opened at $79.58 on Friday. The stock’s 50 day simple moving average is $84.20 and its 200 day simple moving average is $78.29. 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 debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company has a market cap of $57.13 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors 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 2.36%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BK. Citigroup boosted their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Bank of America lifted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. UBS Group lifted their target price on 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $88.71.

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.