The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,407 shares of the bank’s stock after selling 16,011 shares during the period. Trillium Asset Management LLC’s holdings in Bank of New York Mellon were worth $13,630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BK. Empowered Funds LLC boosted its stake in Bank of New York Mellon by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 13,760 shares of the bank’s stock worth $989,000 after purchasing an additional 1,162 shares in the last quarter. Claro Advisors LLC acquired a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $299,000. Drive Wealth Management LLC purchased a new position in Bank of New York Mellon during the 3rd quarter worth approximately $244,000. Caprock Group LLC purchased a new position in Bank of New York Mellon during the 3rd quarter worth approximately $2,963,000. Finally, Meeder Asset Management Inc. raised its position in Bank of New York Mellon by 27.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 285,307 shares of the bank’s stock worth $20,502,000 after buying an additional 60,579 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $82.62 on Wednesday. The company’s fifty day moving average price is $84.48 and its 200 day moving average price is $78.76. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a market capitalization of $59.32 billion, a P/E ratio of 14.22, 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.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company earned $1.28 EPS. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.28%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BK shares. Deutsche Bank Aktiengesellschaft raised 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. Truist Financial raised their price target 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. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Citigroup raised 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 report on Monday, November 25th. Finally, Keefe, Bruyette & Woods raised their price target 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.50.

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.