The Bank of New York Mellon Co. (NYSE:BK) Holdings Decreased by Flputnam Investment Management Co.

Flputnam Investment Management Co. cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 45.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,300 shares of the bank’s stock after selling 10,916 shares during the quarter. Flputnam Investment Management Co.’s holdings in Bank of New York Mellon were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Dakota Wealth Management grew its stake in Bank of New York Mellon by 35.6% during the 4th quarter. Dakota Wealth Management now owns 126,868 shares of the bank’s stock valued at $6,603,000 after acquiring an additional 33,305 shares in the last quarter. Waldron Private Wealth LLC grew its holdings in shares of Bank of New York Mellon by 20.4% in the 4th quarter. Waldron Private Wealth LLC now owns 6,982 shares of the bank’s stock worth $363,000 after purchasing an additional 1,184 shares during the last quarter. Beverly Hills Private Wealth LLC bought a new stake in Bank of New York Mellon during the 4th quarter worth about $261,000. Conning Inc. bought a new stake in Bank of New York Mellon during the 4th quarter worth about $201,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $2,420,000. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI increased their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Citigroup raised their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Bank of America raised their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, UBS Group raised their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Hold” and an average target price of $58.17.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $54.47 on Thursday. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50 day simple moving average is $55.73 and its 200 day simple moving average is $51.10. The stock has a market capitalization of $41.01 billion, a PE ratio of 13.72, a PEG ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.33 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is currently 42.32%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

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.