Twin Capital Management Inc. Decreases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Twin Capital Management Inc. decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,127 shares of the bank’s stock after selling 528 shares during the period. Twin Capital Management Inc.’s holdings in Bank of New York Mellon were worth $1,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BK. Mirae Asset Global Investments Co. Ltd. increased its stake in Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after purchasing an additional 40,969 shares in the last quarter. Trust Point Inc. acquired a new position in Bank of New York Mellon during the 4th quarter valued at approximately $310,000. WCG Wealth Advisors LLC acquired a new position in Bank of New York Mellon during the 3rd quarter valued at approximately $1,552,000. Meeder Asset Management Inc. acquired a new position in Bank of New York Mellon during the 4th quarter valued at approximately $1,298,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Bank of New York Mellon by 22.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock worth $109,088,000 after acquiring an additional 465,229 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BK. Bank of America increased their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup increased their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Evercore ISI increased their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.15.

Insider Activity

In related news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 1.4 %

Shares of NYSE BK opened at $55.24 on Friday. The company’s 50-day simple moving average is $55.74 and its 200-day simple moving average is $51.13. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The firm has a market cap of $41.58 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business earned $1.13 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts predict that The Bank of New York Mellon Co. will post 5.4 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 3.04%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

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.