Livforsakringsbolaget Skandia Omsesidigt Sells 400 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Livforsakringsbolaget Skandia Omsesidigt lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,584 shares of the bank’s stock after selling 400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Bank of New York Mellon were worth $429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Atomi Financial Group Inc. grew its holdings in Bank of New York Mellon by 30.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 8,489 shares of the bank’s stock worth $610,000 after acquiring an additional 1,971 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Bank of New York Mellon by 11.5% during the third quarter. Hexagon Capital Partners LLC now owns 1,966 shares of the bank’s stock valued at $141,000 after purchasing an additional 202 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Bank of New York Mellon by 9.4% in the third quarter. Wedmont Private Capital now owns 5,724 shares of the bank’s stock valued at $415,000 after purchasing an additional 493 shares in the last quarter. Quotient Wealth Partners LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth approximately $205,000. Finally, Tobam lifted its holdings in Bank of New York Mellon by 17.0% during the 3rd quarter. Tobam now owns 6,836 shares of the bank’s stock worth $491,000 after buying an additional 991 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 0.3 %

BK stock opened at $86.15 on Friday. 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 capitalization of $62.64 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70. The business has a 50-day moving average of $80.61 and a 200-day moving average of $74.51.

Bank of New York Mellon (NYSE:BK) last released 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 firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid 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 2.18%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial boosted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. 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 research note on Thursday, January 16th. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” 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 stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.