AustralianSuper Pty Ltd Sells 326,927 Shares of The Bank of New York Mellon Corporation $BK

AustralianSuper Pty Ltd trimmed its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 50.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 317,801 shares of the bank’s stock after selling 326,927 shares during the period. AustralianSuper Pty Ltd’s holdings in Bank of New York Mellon were worth $34,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of 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 acquiring an additional 52,412 shares during the period. Jones Financial Companies Lllp raised its stake in Bank of New York Mellon by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock valued at $3,487,000 after purchasing an additional 8,277 shares in the last quarter. Investment Management Corp of Ontario lifted its position in 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 purchasing an additional 25,842 shares during the period. First National Advisers LLC acquired a new stake in Bank of New York Mellon during the third quarter worth about $3,304,000. Finally, First Horizon Corp bought a new position in Bank of New York Mellon in the 3rd quarter valued at about $22,072,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.2%

BK opened at $118.01 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The company’s 50 day moving average price is $119.74 and its two-hundred day moving average price is $112.50. The firm has a market capitalization of $81.06 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.12 and a beta of 1.10.

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

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were paid a $0.53 dividend. The ex-dividend date 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 is presently 28.61%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BK. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Barclays upped their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. TD Cowen boosted 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. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research report on Wednesday, January 14th. Finally, Weiss Ratings cut Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.