Railway Pension Investments Ltd Sells 3,800 Shares of The Bank of New York Mellon Corporation $BK

Railway Pension Investments Ltd decreased its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 70,300 shares of the bank’s stock after selling 3,800 shares during the period. Railway Pension Investments Ltd’s holdings in Bank of New York Mellon were worth $6,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Westside Investment Management Inc. lifted its position 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 in the last quarter. Hoey Investments Inc. acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at about $32,000. Orion Capital Management LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at about $32,000. GFG Capital LLC bought a new stake in Bank of New York Mellon during the second quarter worth about $36,000. Finally, McClarren Financial Advisors Inc. acquired a new position in Bank of New York Mellon during the first quarter valued at approximately $34,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 0.5%

Shares of Bank of New York Mellon stock opened at $111.94 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a 50-day moving average of $108.23 and a 200-day moving average of $100.95. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $113.74. The stock has a market cap of $78.06 billion, a PE ratio of 16.15, a PEG ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Citigroup boosted their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of New York Mellon in a research report on Tuesday, November 25th. The Goldman Sachs Group lifted their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Truist Financial upped their target price on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.29.

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.