Board of the Pension Protection Fund Trims Stock Position in The Bank of New York Mellon Corporation $BK

Board of the Pension Protection Fund lessened its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 97.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 400 shares of the bank’s stock after selling 13,700 shares during the period. Board of the Pension Protection Fund’s holdings in Bank of New York Mellon were worth $46,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC boosted its stake in shares of Bank of New York Mellon by 133.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock worth $9,998,000 after acquiring an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Bank of New York Mellon by 35.1% during the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after purchasing an additional 8,277 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after purchasing an additional 25,842 shares during the period. First National Advisers LLC purchased a new stake in Bank of New York Mellon in the third quarter worth about $3,304,000. Finally, First Horizon Corp bought a new position in shares of Bank of New York Mellon in the third quarter worth about $22,072,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Down 0.0%

BK opened at $114.87 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market cap of $79.06 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.07 and a beta of 1.10. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76. The stock has a fifty day moving average price of $119.13 and a 200-day moving average price of $113.50.

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 for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion for the quarter. As a group, equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

BK has been the subject of a number of recent research reports. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price objective for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Barclays upped their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Citigroup began coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, New Street Research set a $143.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.