The Bank of New York Mellon Corporation $BK Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 10.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,056,364 shares of the bank’s stock after selling 231,323 shares during the quarter. Envestnet Asset Management Inc. owned about 0.29% of Bank of New York Mellon worth $224,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC grew its stake in Bank of New York Mellon by 133.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock valued at $9,998,000 after purchasing an additional 52,412 shares during the last quarter. Penserra Capital Management LLC boosted its position in Bank of New York Mellon by 8.1% in the third quarter. Penserra Capital Management LLC now owns 5,035 shares of the bank’s stock valued at $548,000 after buying an additional 378 shares during the last quarter. SGL Investment Advisors Inc. purchased a new stake in Bank of New York Mellon in the third quarter valued at approximately $216,000. Westside Investment Management Inc. increased its holdings in Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after buying an additional 127 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in Bank of New York Mellon by 73.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock worth $55,000 after buying an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE:BK opened at $120.52 on Friday. 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 Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $125.89. The stock’s 50-day moving average price is $118.05 and its 200-day moving average price is $110.04. The stock has a market capitalization of $84.04 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released 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 return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion during the quarter. As a group, equities analysts expect 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 declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Analysts Set New Price Targets

BK has been the topic of a number of research reports. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, January 27th. Keefe, Bruyette & Woods upped 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. 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 research note on Wednesday, January 14th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, TD Cowen raised their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $131.92.

About Bank of New York Mellon

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.