Aberdeen Group plc Reduces Position in The Bank of New York Mellon Corporation $BK

Aberdeen Group plc trimmed its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,191 shares of the bank’s stock after selling 30,446 shares during the quarter. Aberdeen Group plc owned about 0.09% of Bank of New York Mellon worth $70,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BK. Ashton Thomas Private Wealth LLC raised its holdings in Bank of New York Mellon by 133.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank’s stock valued at $9,998,000 after buying an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Bank of New York Mellon by 35.1% during the 3rd 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 increased 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 acquiring an additional 25,842 shares in the last quarter. First National Advisers LLC bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $3,304,000. Finally, First Horizon Corp acquired a new stake in Bank of New York Mellon in the third quarter valued at approximately $22,072,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of BK opened at $117.67 on Monday. The company has a 50-day simple moving average of $119.16 and a two-hundred day simple moving average of $111.10. 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 firm has a market capitalization of $82.05 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. 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 announced its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The business 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%. On average, analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada lifted 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 report on Wednesday, January 14th. TD Cowen boosted their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods raised 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. Finally, Barclays boosted their price target on shares of 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. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon 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.