Shell Asset Management Co. Trims Stake in The Bank of New York Mellon Co. (NYSE:BK)

Shell Asset Management Co. reduced its holdings in The Bank of New York Mellon Co. (NYSE:BKFree Report) by 20.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,707 shares of the bank’s stock after selling 5,845 shares during the period. Shell Asset Management Co.’s holdings in Bank of New York Mellon were worth $1,182,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BK. Norges Bank acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $813,701,000. KBC Group NV grew its holdings in Bank of New York Mellon by 217.0% in the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock valued at $79,558,000 after purchasing an additional 1,046,298 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Bank of New York Mellon by 153.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after purchasing an additional 941,193 shares during the period. Northern Trust Corp grew its holdings in Bank of New York Mellon by 8.2% in the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after purchasing an additional 715,421 shares during the period. Finally, Bank of Nova Scotia grew its holdings in Bank of New York Mellon by 1,191.2% in the third quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock valued at $31,953,000 after purchasing an additional 691,172 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

NYSE BK opened at $60.76 on Tuesday. The stock’s fifty day moving average is $57.66 and its two-hundred day moving average is $55.05. The firm has a market capitalization of $45.44 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $60.87.

Bank of New York Mellon (NYSE:BKGet Free Report) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were given a $0.42 dividend. The ex-dividend date was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.76%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup lifted their price target on 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. Jefferies Financial Group lifted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley lifted their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Bank of America lifted their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Check Out Our Latest Report on Bank of New York Mellon

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the sale, the vice president now owns 144,721 shares in the company, valued at approximately $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock worth $6,475,216 over the last quarter. 0.14% of the stock is currently owned by company insiders.

About Bank of New York Mellon

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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