Jupiter Asset Management Ltd. Sells 59,829 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Jupiter Asset Management Ltd. decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 843,908 shares of the bank’s stock after selling 59,829 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.12% of Bank of New York Mellon worth $64,837,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Assetmark Inc. lifted its position in shares of Bank of New York Mellon by 64.7% during the third quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock valued at $134,000 after buying an additional 734 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Bank of New York Mellon by 1.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 10,212 shares of the bank’s stock worth $734,000 after purchasing an additional 192 shares during the period. Covestor Ltd lifted its holdings in shares of Bank of New York Mellon by 216.3% during the third quarter. Covestor Ltd now owns 1,297 shares of the bank’s stock worth $93,000 after purchasing an additional 887 shares during the period. Sigma Planning Corp lifted its stake in Bank of New York Mellon by 2.7% during the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after acquiring an additional 143 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the third quarter valued at $46,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on BK shares. Evercore ISI boosted their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Barclays upped their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial upped their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Bank of America increased their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.71.

Bank of New York Mellon Stock Performance

NYSE BK opened at $81.04 on Wednesday. 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 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 market capitalization of $58.18 billion, a PE ratio of 13.95, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a fifty day moving average of $84.08 and a two-hundred day moving average of $78.27.

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

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 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.