Sei Investments Co. Lowers Position in The Bank of New York Mellon Co. (NYSE:BK)

Sei Investments Co. decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,080,578 shares of the bank’s stock after selling 44,517 shares during the period. Sei Investments Co. owned 0.15% of Bank of New York Mellon worth $83,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BK. Empowered Funds LLC increased its stake in shares of Bank of New York Mellon by 9.2% during the third quarter. Empowered Funds LLC now owns 13,760 shares of the bank’s stock valued at $989,000 after purchasing an additional 1,162 shares in the last quarter. Prospera Financial Services Inc increased its stake in shares of Bank of New York Mellon by 11.4% during the third quarter. Prospera Financial Services Inc now owns 5,294 shares of the bank’s stock valued at $381,000 after purchasing an additional 542 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $1,909,000. Commerce Bank increased its position in shares of Bank of New York Mellon by 1.2% during the third quarter. Commerce Bank now owns 29,995 shares of the bank’s stock valued at $2,155,000 after acquiring an additional 352 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Bank of New York Mellon by 33.1% during the third quarter. Advisors Asset Management Inc. now owns 61,988 shares of the bank’s stock valued at $4,454,000 after acquiring an additional 15,419 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of several analyst reports. Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Barclays raised their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group raised their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.50.

Bank of New York Mellon Trading Down 0.6 %

Shares of Bank of New York Mellon stock opened at $83.46 on Friday. The company’s fifty day simple moving average is $84.88 and its 200-day simple moving average is $79.02. The stock has a market capitalization of $59.92 billion, a PE ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year 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.

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, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. As a group, equities analysts anticipate 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 was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

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.