The Bank of New York Mellon Corporation $BK Stock Holdings Decreased by Private Management Group Inc.

Private Management Group Inc. lowered its position in The Bank of New York Mellon Corporation (NYSE:BK) by 17.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 416,058 shares of the bank’s stock after selling 86,391 shares during the period. Bank of New York Mellon comprises approximately 1.3% of Private Management Group Inc.’s holdings, making the stock its 10th largest position. Private Management Group Inc. owned 0.06% of Bank of New York Mellon worth $45,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Bank of New York Mellon by 0.7% during the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after purchasing an additional 517,081 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Bank of New York Mellon by 0.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock worth $1,439,831,000 after purchasing an additional 139,544 shares during the period. Norges Bank bought a new position in Bank of New York Mellon in the 2nd quarter worth approximately $1,081,847,000. First Trust Advisors LP grew its holdings in Bank of New York Mellon by 1.5% during the 3rd quarter. First Trust Advisors LP now owns 4,483,889 shares of the bank’s stock valued at $488,564,000 after buying an additional 66,010 shares in the last quarter. Finally, Barclays PLC grew its holdings in Bank of New York Mellon by 1.4% during the 3rd quarter. Barclays PLC now owns 2,372,430 shares of the bank’s stock valued at $258,500,000 after buying an additional 31,643 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Down 0.8%

NYSE BK opened at $116.18 on Friday. The stock has a 50 day moving average price of $119.65 and a 200-day moving average price of $113.16. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $79.96 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.09 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. As a group, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is 28.61%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BK. Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Finally, Citigroup started coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.