The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 11.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,898 shares of the bank’s stock after selling 4,801 shares during the quarter. Bank of New York Mellon accounts for approximately 1.9% of Granite Group Advisors LLC’s holdings, making the stock its 4th largest position. Granite Group Advisors LLC’s holdings in Bank of New York Mellon were worth $2,989,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. APG Asset Management N.V. boosted its position in Bank of New York Mellon by 175.0% during the 2nd quarter. APG Asset Management N.V. now owns 89,732 shares of the bank’s stock valued at $5,014,000 after purchasing an additional 57,100 shares during the period. MBB Public Markets I LLC acquired a new position in Bank of New York Mellon during the 2nd quarter valued at approximately $3,285,000. Mackenzie Financial Corp boosted its position in Bank of New York Mellon by 1.5% during the 2nd quarter. Mackenzie Financial Corp now owns 93,439 shares of the bank’s stock valued at $5,596,000 after purchasing an additional 1,362 shares during the period. SkyView Investment Advisors LLC boosted its position in Bank of New York Mellon by 11.6% during the 2nd quarter. SkyView Investment Advisors LLC now owns 9,469 shares of the bank’s stock valued at $567,000 after purchasing an additional 983 shares during the period. Finally, Creative Planning boosted its position in Bank of New York Mellon by 3.1% during the 2nd quarter. Creative Planning now owns 236,238 shares of the bank’s stock valued at $14,148,000 after purchasing an additional 7,058 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.3 %

Shares of Bank of New York Mellon stock opened at $85.82 on Monday. The stock’s fifty day moving average is $79.53 and its 200-day moving average is $73.18. The firm has a market capitalization of $62.39 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $86.34.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating 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 business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BK. JPMorgan Chase & Co. boosted their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company lifted 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. Truist Financial lifted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.00.

About Bank of New York Mellon

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.