Robeco Institutional Asset Management B.V. Sells 46,687 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Robeco Institutional Asset Management B.V. reduced its stake in The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 487,582 shares of the bank’s stock after selling 46,687 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Bank of New York Mellon were worth $18,780,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Bank of New York Mellon by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 67,626,336 shares of the bank’s stock valued at $2,604,967,000 after acquiring an additional 1,183,130 shares in the last quarter. Dodge & Cox lifted its position in Bank of New York Mellon by 1.5% during the 2nd quarter. Dodge & Cox now owns 58,774,502 shares of the bank’s stock worth $2,451,484,000 after buying an additional 883,395 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in Bank of New York Mellon by 16.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 21,915,465 shares of the bank’s stock worth $914,094,000 after buying an additional 3,087,942 shares in the last quarter. Victory Capital Management Inc. lifted its position in Bank of New York Mellon by 13.8% during the 3rd quarter. Victory Capital Management Inc. now owns 9,278,963 shares of the bank’s stock worth $357,425,000 after buying an additional 1,127,786 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Bank of New York Mellon by 149.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 8,104,949 shares of the bank’s stock worth $338,058,000 after buying an additional 4,857,962 shares in the last quarter. 82.29% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $44.40 on Friday. The company’s 50 day moving average price is $49.64 and its two-hundred day moving average price is $45.19. The Bank of New York Mellon Co. has a 12-month low of $36.22 and a 12-month high of $53.63. The firm has a market cap of $35.51 billion, a PE ratio of 15.31, a PEG ratio of 1.14 and a beta of 1.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK – Get Rating) last announced its earnings results on Friday, January 13th. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Bank of New York Mellon had a net margin of 12.87% and a return on equity of 10.78%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the business posted $1.04 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that The Bank of New York Mellon Co. will post 4.83 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 3rd. Investors of record on Monday, January 23rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, January 20th. This represents a $1.48 annualized dividend and a dividend yield of 3.33%. Bank of New York Mellon’s dividend payout ratio is 51.03%.

Analyst Ratings Changes

BK has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 1st. Citigroup upped their target price on shares of Bank of New York Mellon from $50.00 to $55.00 in a report on Friday, December 9th. StockNews.com began coverage on shares of Bank of New York Mellon in a report on Thursday. They issued a “hold” rating on the stock. The Goldman Sachs Group raised shares of Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Wednesday, January 4th. Finally, Wolfe Research raised shares of Bank of New York Mellon from a “peer perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Wednesday, January 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $52.19.

Bank of New York Mellon Profile

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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segment. The Securities Services segment includes Asset Servicing business, which provides global custody, fund accounting, integrated middle-office solutions, transfer agency and data and analytics solutions.