Livforsakringsbolaget Skandia Omsesidigt Sells 400 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Livforsakringsbolaget Skandia Omsesidigt lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,584 shares of the bank’s stock after selling 400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Bank of New York Mellon were worth $429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. McClarren Financial Advisors Inc. boosted its stake in shares of Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon during the third quarter valued at approximately $46,000. Finally, Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $49,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BK. Morgan Stanley raised their target price on shares of 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. Evercore ISI raised their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Bank of America boosted their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Truist Financial raised their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Barclays upped their price target on 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Trading Down 0.3 %

Shares of BK stock opened at $86.15 on Friday. 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 firm has a fifty day moving average of $80.61 and a 200-day moving average of $74.51. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $87.70. The stock has a market cap of $62.64 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly 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 firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company earned $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.