Orion Portfolio Solutions LLC Reduces Position in The Bank of New York Mellon Co. (NYSE:BK)

Orion Portfolio Solutions LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,078 shares of the bank’s stock after selling 7,790 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Bank of New York Mellon were worth $2,465,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BK. Pictet Asset Management Holding SA raised its holdings in shares of Bank of New York Mellon by 12.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 485,346 shares of the bank’s stock worth $37,289,000 after buying an additional 52,112 shares during the period. New Age Alpha Advisors LLC lifted its position in shares of Bank of New York Mellon by 5,626.8% during the fourth quarter. New Age Alpha Advisors LLC now owns 14,546 shares of the bank’s stock worth $1,118,000 after purchasing an additional 14,292 shares during the last quarter. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $1,150,462,000. Blair William & Co. IL increased its stake in Bank of New York Mellon by 3.9% in the 4th quarter. Blair William & Co. IL now owns 24,605 shares of the bank’s stock worth $1,890,000 after buying an additional 930 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $6,501,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE BK opened at $83.74 on Wednesday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The firm’s fifty day simple moving average is $85.33 and its two-hundred day simple moving average is $79.90. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $60.12 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last announced 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 for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the company posted $1.28 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

Analyst Ratings Changes

A number of brokerages have recently commented on BK. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Barclays lifted their target price on 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 increased their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday. Finally, Citigroup raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.00.

Bank of New York Mellon 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.