Robeco Institutional Asset Management B.V. Decreases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 51.0% during the fourth quarter, Holdings Channel reports. The fund owned 1,254,437 shares of the bank’s stock after selling 1,303,313 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Bank of New York Mellon were worth $653,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BK. Massachusetts Financial Services Co. MA lifted its position in shares of Bank of New York Mellon by 142.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock worth $69,125,000 after purchasing an additional 951,730 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bank of New York Mellon by 153.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after buying an additional 941,193 shares in the last quarter. Barclays PLC lifted its holdings in Bank of New York Mellon by 30.0% during the 3rd quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock worth $160,020,000 after buying an additional 866,548 shares during the last quarter. Northern Trust Corp grew its position in shares of Bank of New York Mellon by 8.2% in the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after acquiring an additional 715,421 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of Bank of New York Mellon by 1,191.2% in the 3rd quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock valued at $31,953,000 after acquiring an additional 691,172 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the sale, the vice president now owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock valued at $6,475,216 in the last quarter. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on BK shares. Bank of America boosted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Evercore ISI lifted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Citigroup increased their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Trading Down 1.1 %

Shares of NYSE BK opened at $58.35 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $59.70. The company has a market cap of $43.63 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 1.21 and a beta of 1.11. The business has a fifty day simple moving average of $56.98 and a 200-day simple moving average of $53.83.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the firm posted $1.13 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were given a $0.42 dividend. The ex-dividend date was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.88%. Bank of New York Mellon’s payout ratio is 40.98%.

Bank of New York Mellon Company 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.