Intech Investment Management LLC Sells 84,123 Shares of The Bank of New York Mellon Corporation $BK

Intech Investment Management LLC reduced its position in The Bank of New York Mellon Corporation (NYSE:BK) by 27.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,796 shares of the bank’s stock after selling 84,123 shares during the quarter. Intech Investment Management LLC’s holdings in Bank of New York Mellon were worth $23,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Westside Investment Management Inc. increased its holdings in Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in Bank of New York Mellon during the third quarter valued at about $33,000. Caldwell Trust Co bought a new position in Bank of New York Mellon during the second quarter worth about $36,000. Quaker Wealth Management LLC increased its stake in shares of Bank of New York Mellon by 198.9% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after purchasing an additional 905 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its position in shares of Bank of New York Mellon by 73.2% in the third quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock valued at $55,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 3.2%

BK opened at $120.26 on Thursday. The company has a fifty day moving average price of $119.48 and a 200-day moving average price of $111.96. The firm has a market capitalization of $83.86 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on BK shares. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. TD Cowen raised their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Barclays lifted their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, Royal Bank Of Canada boosted their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Company 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.