Board of the Pension Protection Fund Has $46,000 Holdings in The Bank of New York Mellon Corporation $BK

Board of the Pension Protection Fund trimmed its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 97.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400 shares of the bank’s stock after selling 13,700 shares during the period. Board of the Pension Protection Fund’s holdings in Bank of New York Mellon were worth $46,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC grew its holdings 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 worth $9,998,000 after acquiring an additional 52,412 shares during the period. Jones Financial Companies Lllp raised its position in shares of Bank of New York Mellon by 35.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank’s stock worth $3,487,000 after acquiring an additional 8,277 shares in the last quarter. Investment Management Corp of Ontario lifted its stake in shares of Bank of New York Mellon by 25.9% in the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after purchasing an additional 25,842 shares during the period. First National Advisers LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at about $3,304,000. Finally, First Horizon Corp bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $22,072,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $114.87 on Friday. The firm has a market cap of $79.06 billion, a P/E ratio of 15.50, a PEG ratio of 1.07 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76. The company has a 50 day moving average of $119.13 and a 200 day moving average of $113.50.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, research 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors 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 payout ratio is presently 28.61%.

Wall Street Analysts Forecast Growth

BK has been the subject of several recent analyst reports. Barclays raised 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. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price target for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Royal Bank Of Canada raised their price objective on shares of 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. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus 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.