UniSuper Management Pty Ltd Sells 137,345 Shares of The Bank of New York Mellon Co. (NYSE:BK)

UniSuper Management Pty Ltd cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 71.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,531 shares of the bank’s stock after selling 137,345 shares during the period. UniSuper Management Pty Ltd’s holdings in Bank of New York Mellon were worth $4,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BK. Wellington Management Group LLP lifted its stake in Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth $90,955,000. Zacks Investment Management bought a new stake in Bank of New York Mellon during the third quarter valued at $62,589,000. State Street Corp grew its position in Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after buying an additional 659,096 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Bank of New York Mellon by 248.3% in the 3rd quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock worth $61,715,000 after acquiring an additional 612,287 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of research analyst reports. UBS Group lifted their price target 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. Bank of America increased their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays lifted their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley increased their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.71.

Bank of New York Mellon Trading Down 2.1 %

Shares of BK opened at $82.67 on Friday. The firm has a fifty day simple moving average of $85.34 and a two-hundred day simple moving average of $79.53. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The stock has a market capitalization of $59.35 billion, a P/E ratio of 14.23, a PEG ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $1.28 earnings per share. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.27%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Bank of New York Mellon Company 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.