Intech Investment Management LLC Sells 84,123 Shares of The Bank of New York Mellon Corporation $BK

Intech Investment Management LLC decreased its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 27.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 218,796 shares of the bank’s stock after selling 84,123 shares during the quarter. Intech Investment Management LLC’s holdings in Bank of New York Mellon were worth $23,840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BK. Vanguard Group Inc. grew its position in Bank of New York Mellon by 0.7% in the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after acquiring an additional 517,081 shares in the last quarter. Geode Capital Management LLC raised its position in Bank of New York Mellon by 4.3% during the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after purchasing an additional 785,478 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Bank of New York Mellon by 0.9% during the second quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock valued at $1,439,831,000 after purchasing an additional 139,544 shares in the last quarter. Norges Bank bought a new stake in Bank of New York Mellon during the second quarter worth about $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Bank of New York Mellon by 36.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $120.26 on Thursday. The company has a market capitalization of $83.86 billion, a P/E ratio of 16.23, a PEG ratio of 1.09 and a beta of 1.10. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The stock has a 50 day moving average price of $119.48 and a two-hundred day moving average price of $111.96.

Bank of New York Mellon (NYSE:BK) last issued its earnings results 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 firm had revenue of $5.07 billion for the quarter. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BK shares. TD Cowen increased their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Barclays upped their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada upped their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $131.92.

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.