The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,960 shares of the bank’s stock after selling 255 shares during the quarter. Anchor Investment Management LLC’s holdings in Bank of New York Mellon were worth $1,534,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in BK. Bridgewater Associates LP boosted its stake in shares of Bank of New York Mellon by 90.1% during the 4th quarter. Bridgewater Associates LP now owns 990,319 shares of the bank’s stock worth $76,086,000 after acquiring an additional 469,398 shares in the last quarter. Promethos Capital LLC raised its holdings in Bank of New York Mellon by 3.5% during the fourth quarter. Promethos Capital LLC now owns 59,406 shares of the bank’s stock worth $4,564,000 after purchasing an additional 2,000 shares during the last quarter. XTX Topco Ltd boosted its position in Bank of New York Mellon by 199.8% during the fourth quarter. XTX Topco Ltd now owns 48,779 shares of the bank’s stock worth $3,748,000 after purchasing an additional 32,508 shares in the last quarter. Hanlon Investment Management Inc. acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $693,000. Finally, CreativeOne Wealth LLC increased its position in shares of Bank of New York Mellon by 33.2% in the fourth quarter. CreativeOne Wealth LLC now owns 11,945 shares of the bank’s stock valued at $918,000 after buying an additional 2,974 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley dropped their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Evercore ISI upped their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. Bank of America raised their price target 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. Finally, Wells Fargo & Company upped their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $89.64.

Bank of New York Mellon Trading Up 0.3 %

NYSE BK opened at $77.74 on Wednesday. The company has a market cap of $55.81 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. 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 company has a 50-day moving average of $83.29 and a 200-day moving average of $80.26.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.29 earnings per share. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon’s payout ratio is currently 30.62%.

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.