American Century Companies Inc. Reduces Position in The Bank of New York Mellon Corporation $BK

American Century Companies Inc. trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK) by 29.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,069,767 shares of the bank’s stock after selling 847,141 shares during the quarter. American Century Companies Inc. owned approximately 0.30% of Bank of New York Mellon worth $225,522,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BK. Westside Investment Management Inc. lifted its holdings in Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after buying an additional 127 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth about $33,000. Caldwell Trust Co purchased a new stake in Bank of New York Mellon during the second quarter worth approximately $36,000. Dunhill Financial LLC boosted its holdings in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after purchasing an additional 242 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in Bank of New York Mellon by 73.2% in the third quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock valued at $55,000 after purchasing 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 Trading Down 2.3%

NYSE BK opened at $118.83 on Friday. The firm’s fifty day moving average is $119.68 and its two-hundred day moving average is $112.19. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76. 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 has a market cap of $81.62 billion, a PE ratio of 16.04, a P/E/G ratio of 1.11 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last announced 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 net margin of 13.62% and a return on equity of 14.37%. Analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is 28.61%.

Analysts Set New Price Targets

Several analysts have recently weighed in on BK shares. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Morgan Stanley boosted their price target 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. New Street Research set a $143.00 price objective on Bank of New York Mellon in a report on Wednesday, January 14th. 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. Finally, Citigroup assumed coverage on Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.