The Bank of New York Mellon Corporation $BK Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 782,577 shares of the bank’s stock after selling 22,810 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Bank of New York Mellon worth $85,270,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Investment Management Corp of Ontario raised its holdings in shares of Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after acquiring an additional 25,842 shares in the last quarter. First National Advisers LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $3,304,000. First Horizon Corp acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at $22,072,000. Permanent Capital Management LP acquired a new position in Bank of New York Mellon in the third quarter worth $2,262,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Bank of New York Mellon by 36.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after acquiring an additional 577,621 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.4%

Bank of New York Mellon stock opened at $121.62 on Tuesday. The stock has a market cap of $84.81 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $125.89. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The firm’s 50-day simple moving average is $117.47 and its 200 day simple moving average is $109.75.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion for the quarter. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Morgan Stanley raised their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.