Morningstar Investment Management LLC Sells 14,914 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Morningstar Investment Management LLC decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 75.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,945 shares of the bank’s stock after selling 14,914 shares during the period. Morningstar Investment Management LLC’s holdings in Bank of New York Mellon were worth $380,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. FMR LLC boosted its holdings in Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after acquiring an additional 8,512,404 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Bank of New York Mellon by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after acquiring an additional 117,974 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after acquiring an additional 3,142,869 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Bank of New York Mellon by 8.3% in the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock valued at $172,348,000 after acquiring an additional 173,347 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BK. Truist Financial raised their price target on 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. Bank of America increased their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company increased their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, UBS Group increased their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Trading Down 0.6 %

NYSE BK opened at $88.36 on Thursday. The firm has a market cap of $64.24 billion, a P/E ratio of 15.21, a P/E/G ratio of 0.99 and a beta of 1.08. 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’s 50-day moving average is $81.71 and its 200-day moving average is $76.00. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS 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 company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the firm posted $1.28 earnings per share. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.93 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

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.