SG Americas Securities LLC Sells 74,810 Shares of The Bank of New York Mellon Corporation $BK

SG Americas Securities LLC lessened its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 73.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,835 shares of the bank’s stock after selling 74,810 shares during the period. SG Americas Securities LLC’s holdings in Bank of New York Mellon were worth $2,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Bank of New York Mellon by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after purchasing an additional 517,081 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Bank of New York Mellon by 4.3% in the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock worth $1,717,074,000 after buying an additional 785,478 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Bank of New York Mellon by 0.9% in the second quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock worth $1,439,831,000 after buying an additional 139,544 shares in the last quarter. Norges Bank bought a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Bank of New York Mellon by 36.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after acquiring an additional 577,621 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.4%

Shares of BK stock opened at $120.66 on Tuesday. The business has a 50-day moving average of $113.92 and a 200 day moving average of $106.84. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $122.36. The stock has a market capitalization of $84.14 billion, a PE ratio of 17.41, a P/E/G ratio of 0.92 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is currently 30.59%.

Analysts Set New Price Targets

A number of research analysts have recently commented on BK shares. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $118.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. TD Cowen lifted their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, Evercore ISI lifted their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $115.43.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.