The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Reduced by Granite Group Advisors LLC

Granite Group Advisors LLC lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 11.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,898 shares of the bank’s stock after selling 4,801 shares during the quarter. Bank of New York Mellon makes up approximately 1.9% of Granite Group Advisors LLC’s holdings, making the stock its 4th largest holding. Granite Group Advisors LLC’s holdings in Bank of New York Mellon were worth $2,989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. APG Asset Management N.V. increased its holdings in shares of Bank of New York Mellon by 175.0% during the 2nd quarter. APG Asset Management N.V. now owns 89,732 shares of the bank’s stock valued at $5,014,000 after acquiring an additional 57,100 shares during the last quarter. MBB Public Markets I LLC bought a new stake in Bank of New York Mellon during the 2nd quarter valued at approximately $3,285,000. Mackenzie Financial Corp boosted its stake in Bank of New York Mellon by 1.5% during the 2nd quarter. Mackenzie Financial Corp now owns 93,439 shares of the bank’s stock valued at $5,596,000 after purchasing an additional 1,362 shares during the period. SkyView Investment Advisors LLC boosted its stake in Bank of New York Mellon by 11.6% during the 2nd quarter. SkyView Investment Advisors LLC now owns 9,469 shares of the bank’s stock valued at $567,000 after purchasing an additional 983 shares during the period. Finally, Creative Planning boosted its stake in Bank of New York Mellon by 3.1% during the 2nd quarter. Creative Planning now owns 236,238 shares of the bank’s stock valued at $14,148,000 after purchasing an additional 7,058 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial increased their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. UBS Group increased their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $85.82 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market capitalization of $62.39 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $86.34. The business has a 50 day simple moving average of $79.53 and a 200 day simple moving average of $73.18.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.19%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Bank of New York Mellon 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.