Shelton Capital Management Has $11.01 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Shelton Capital Management trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,357 shares of the bank’s stock after selling 13,699 shares during the quarter. Shelton Capital Management’s holdings in Bank of New York Mellon were worth $11,014,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP increased its position in Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares during the period. Insigneo Advisory Services LLC bought a new position in shares of Bank of New York Mellon in the 3rd quarter worth about $395,000. EP Wealth Advisors LLC lifted its stake in shares of Bank of New York Mellon by 26.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 4,937 shares of the bank’s stock valued at $355,000 after purchasing an additional 1,038 shares during the period. iA Global Asset Management Inc. acquired a new position in shares of Bank of New York Mellon during the 3rd quarter valued at $775,000. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Bank of New York Mellon by 2.3% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 39,868 shares of the bank’s stock valued at $2,865,000 after buying an additional 879 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.8 %

Shares of Bank of New York Mellon stock opened at $73.92 on Tuesday. The stock has a market capitalization of $53.07 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-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 stock’s 50-day simple moving average is $84.74 and its 200 day simple moving average is $80.10.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the company posted $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.54%. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research 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. Truist Financial decreased their target price on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Citigroup raised their price target 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. Finally, Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $89.86.

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.