Shell Asset Management Co. Decreases Stake in The Bank of New York Mellon Corporation $BK

Shell Asset Management Co. cut its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 75.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,957 shares of the bank’s stock after selling 46,397 shares during the period. Shell Asset Management Co.’s holdings in Bank of New York Mellon were worth $1,630,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its holdings in Bank of New York Mellon by 1.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after acquiring an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its position in shares of Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after purchasing an additional 96 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its stake in shares of Bank of New York Mellon by 1.9% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after purchasing an additional 98 shares in the last quarter. Tiemann Investment Advisors LLC increased its holdings in Bank of New York Mellon by 2.9% in the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock valued at $318,000 after buying an additional 100 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Bank of New York Mellon by 13.7% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 2.4%

BK stock opened at $117.67 on Monday. The company has a market cap of $82.05 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The company has a fifty day moving average price of $119.16 and a 200 day moving average price of $111.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76.

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

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BK. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research note on Wednesday, January 14th. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon 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.