M&G PLC Sells 96,284 Shares of The Bank of New York Mellon Corporation $BK

M&G PLC cut its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 663,691 shares of the bank’s stock after selling 96,284 shares during the quarter. M&G PLC owned about 0.10% of Bank of New York Mellon worth $72,342,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Valeo Financial Advisors LLC grew its stake in shares of Bank of New York Mellon by 1.3% during the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after purchasing an additional 94 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in shares of Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after buying an additional 96 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. increased its stake in shares of Bank of New York Mellon by 1.9% in the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock valued at $566,000 after acquiring an additional 98 shares during the last quarter. Tiemann Investment Advisors LLC raised its position in shares of Bank of New York Mellon by 2.9% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock valued at $318,000 after acquiring an additional 100 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Bank of New York Mellon by 13.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after purchasing an additional 100 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

BK has been the topic of several analyst reports. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research note on Wednesday, January 14th. Royal Bank Of Canada increased their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Citigroup lifted their price objective on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Morgan Stanley raised their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Price Performance

Shares of BK opened at $117.67 on Monday. The company has a 50 day moving average of $119.16 and a 200-day moving average of $111.10. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $82.05 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.10 and a beta of 1.10. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.07 billion during the quarter. As a group, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

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.