Rathbones Group PLC Decreases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Rathbones Group PLC trimmed its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 76,754 shares of the bank's stock after selling 6,691 shares during the quarter. Rathbones Group PLC's holdings in Bank of New York Mellon were worth $5,897,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BK. Graney & King LLC bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $39,000. TCTC Holdings LLC increased its stake in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after buying an additional 430 shares during the period. Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth $49,000. Finally, Friedenthal Financial purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on BK shares. Morgan Stanley lowered their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company upped their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Wolfe Research lowered Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, UBS Group lifted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.86.

Bank of New York Mellon Stock Up 1.5 %

BK traded up $1.14 during midday trading on Friday, reaching $77.75. The company's stock had a trading volume of 6,804,364 shares, compared to its average volume of 3,980,035. The stock's 50-day moving average is $83.63 and its 200-day moving average is $80.24. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The firm has a market capitalization of $55.82 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.97 and a beta of 1.03. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $1.29 EPS. As a group, research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Bank of New York Mellon 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.