ING Groep NV Reduces Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

ING Groep NV lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 36.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,749 shares of the bank’s stock after selling 4,495 shares during the period. ING Groep NV’s holdings in Bank of New York Mellon were worth $595,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares during the period. Wellington Management Group LLP lifted its position in shares of 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 during the period. Zacks Investment Management purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter worth about $62,589,000. State Street Corp lifted its position in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of 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 purchasing an additional 612,287 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BK shares. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Evercore ISI increased their price target 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 note on Thursday, January 16th. Finally, Citigroup increased their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Up 0.8 %

NYSE:BK opened at $87.97 on Tuesday. The firm has a market cap of $63.96 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.98 and a beta of 1.08. 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 Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $89.44. The firm has a 50-day simple moving average of $82.21 and a two-hundred day simple moving average of $76.64.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. Analysts predict that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.14%. Bank of New York Mellon’s dividend payout ratio is currently 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.