Nisa Investment Advisors LLC Trims Holdings in The Bank of New York Mellon Corporation $BK

Nisa Investment Advisors LLC trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK) by 14.3% during the second quarter, Holdings Channel.com reports. The firm owned 37,619 shares of the bank’s stock after selling 6,292 shares during the period. Nisa Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $3,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management lifted its holdings in Bank of New York Mellon by 6.3% in the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock valued at $157,000 after purchasing an additional 102 shares in the last quarter. Confluence Wealth Services Inc. lifted its holdings in shares of Bank of New York Mellon by 1.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock worth $1,072,000 after acquiring an additional 111 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. boosted its position in shares of Bank of New York Mellon by 2.2% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock worth $464,000 after acquiring an additional 112 shares during the last quarter. Sax Wealth Advisors LLC boosted its position in shares of Bank of New York Mellon by 2.3% in the first quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after acquiring an additional 117 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its position in shares of Bank of New York Mellon by 13.8% in the first quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock worth $86,000 after acquiring an additional 125 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price on the stock. Citigroup raised their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Finally, The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Trading Down 1.3%

NYSE BK opened at $107.00 on Thursday. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $110.87. The company’s 50 day moving average price is $106.46 and its 200 day moving average price is $96.42. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a market capitalization of $75.46 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.99 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. On average, sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

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.