Aviva PLC Sells 293,036 Shares of The Bank of New York Mellon Corporation $BK

Aviva PLC decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 32.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 623,936 shares of the bank’s stock after selling 293,036 shares during the period. Aviva PLC owned approximately 0.09% of Bank of New York Mellon worth $56,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BK. Hemington Wealth Management boosted its position in shares of Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock valued at $157,000 after acquiring an additional 102 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its stake in Bank of New York Mellon by 4.0% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 2,771 shares of the bank’s stock worth $252,000 after buying an additional 107 shares in the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Bank of New York Mellon by 1.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock worth $1,072,000 after buying an additional 111 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its position in shares of Bank of New York Mellon by 2.2% during the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock valued at $464,000 after buying an additional 112 shares in the last quarter. Finally, Sax Wealth Advisors LLC raised its position in shares of Bank of New York Mellon by 2.3% during the 1st quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock valued at $443,000 after buying an additional 117 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 1.1%

NYSE BK opened at $109.66 on Friday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The stock has a market capitalization of $76.47 billion, a PE ratio of 15.82, a PEG ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The business’s 50-day moving average is $107.06 and its 200 day moving average is $97.99.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.59%.

Analysts Set New Price Targets

BK has been the subject of several research reports. 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 for the company. Weiss Ratings cut Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday. TD Cowen increased their price objective on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Barclays boosted their target price on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Finally, Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.29.

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.