The Bank of New York Mellon Corporation $BK Holdings Lowered by Boston Common Asset Management LLC

Boston Common Asset Management LLC trimmed its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 31.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,886 shares of the bank’s stock after selling 52,294 shares during the quarter. Boston Common Asset Management LLC’s holdings in Bank of New York Mellon were worth $10,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Nuveen LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $773,627,000. AustralianSuper Pty Ltd acquired a new stake in shares of Bank of New York Mellon during the first quarter valued at approximately $92,502,000. Goldman Sachs Group Inc. raised its holdings in shares of Bank of New York Mellon by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after acquiring an additional 1,052,145 shares during the period. Wellington Management Group LLP raised its holdings in shares of Bank of New York Mellon by 257.6% during the first quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock valued at $103,685,000 after acquiring an additional 890,593 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Bank of New York Mellon by 37.7% during the first quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after acquiring an additional 887,361 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 0.1%

Bank of New York Mellon stock opened at $106.48 on Friday. The firm has a market cap of $75.09 billion, a PE ratio of 16.26, a P/E/G ratio of 1.01 and a beta of 1.13. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s 50 day moving average price is $104.60 and its two-hundred day moving average price is $92.99. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, topping the consensus estimate of $1.73 by $0.21. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 earnings per share. On average, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were given a $0.53 dividend. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, July 25th. Bank of New York Mellon’s payout ratio is presently 32.37%.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the company a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Saturday, September 27th. Finally, BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research note on Friday. They issued an “outperform” rating and a $125.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $103.46.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the sale, the executive vice president directly owned 35,115 shares of the company’s stock, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.