Elo Mutual Pension Insurance Co Lowers Stake in The Bank of New York Mellon Co. (NYSE:BK)

Elo Mutual Pension Insurance Co lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,216 shares of the bank’s stock after selling 2,060 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Bank of New York Mellon were worth $5,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. raised its stake in shares of Bank of New York Mellon by 12.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Bank of New York Mellon by 0.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after purchasing an additional 133 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of Bank of New York Mellon by 21.0% in the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after buying an additional 135 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Bank of New York Mellon by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after buying an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC grew its position in shares of Bank of New York Mellon by 2.9% during the 4th quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock worth $393,000 after buying an additional 142 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $84.63 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. The company has a market cap of $60.77 billion, a PE ratio of 14.57, a P/E/G ratio of 0.97 and a beta of 1.06. 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 business has a 50-day simple moving average of $85.35 and a two-hundred day simple moving average of $79.42.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the business earned $1.28 EPS. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal 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 given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $94.00 to $98.00 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 report on Friday, January 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, UBS Group increased their target price on 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. Six investment 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 has a consensus rating of “Moderate Buy” and an average target price of $89.71.

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.