The Bank of New York Mellon Corporation $BK Shares Sold by Prudential PLC

Key Points

• Prudential PLC cut its stake in The Bank of New York Mellon by 34.1% in Q3, selling 101,161 shares and leaving 195,287 shares worth about $21.3 million.
• Multiple analysts raised price targets this month (e.g., Keefe, Bruyette & Woods to $143, Morgan Stanley to $132, RBC to $130), leaving BK with a consensus rating of "Moderate Buy" and a consensus target of $131.92.
• BNY Mellon pays a quarterly dividend of $0.53 (annualized $2.12, yield ~1.8%), trades around $116 with a P/E of 15.7 and a market cap near $80 billion.

Prudential PLC reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 34.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,287 shares of the bank's stock after selling 101,161 shares during the period. Prudential PLC's holdings in Bank of New York Mellon were worth $21,278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Valley Wealth Managers Inc. acquired a new position in Bank of New York Mellon during the third quarter worth approximately $33,000. Caldwell Trust Co acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $36,000. Westside Investment Management Inc. boosted its holdings in shares of Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank's stock valued at $45,000 after purchasing an additional 127 shares during the last quarter. Dunhill Financial LLC grew its stake in shares of Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after buying an additional 242 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $52,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on BK shares. Royal Bank Of Canada increased their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 14th. Morgan Stanley raised their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings upgraded Bank of New York Mellon from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.92.

Bank of New York Mellon Stock Down 0.8%

Shares of Bank of New York Mellon stock opened at $116.18 on Friday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76. The stock has a market cap of $79.96 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 1.09 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a fifty day moving average price of $119.65 and a 200 day moving average price of $113.16.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon's dividend payout ratio (DPR) is presently 28.61%.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.

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