Creative Planning Sells 21,522 Shares of The Bank of New York Mellon Corporation $BK

Creative Planning lessened its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 13.3% during the second quarter, Holdings Channel reports. The fund owned 140,887 shares of the bank’s stock after selling 21,522 shares during the quarter. Creative Planning’s holdings in Bank of New York Mellon were worth $12,836,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of BK. Canada Post Corp Registered Pension Plan purchased a new stake in Bank of New York Mellon during the first quarter worth about $1,035,000. Formidable Asset Management LLC bought a new position in shares of Bank of New York Mellon during the 1st quarter valued at approximately $247,000. Goldman Sachs Group Inc. increased its stake in shares of Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after purchasing an additional 1,052,145 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Bank of New York Mellon by 150.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,654 shares of the bank’s stock worth $7,804,000 after purchasing an additional 51,457 shares during the period. Finally, Marble Harbor Investment Counsel LLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth approximately $218,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 3.3%

Shares of BK opened at $106.84 on Tuesday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $113.74. The stock has a market cap of $74.51 billion, a PE ratio of 15.42, a P/E/G ratio of 0.98 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $107.76 and its 200-day moving average price is $99.44.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The company 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%. On average, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared 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 2.0%. The ex-dividend date was Monday, October 27th. Bank of New York Mellon’s payout ratio is 30.59%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BK shares. Wells Fargo & Company raised their target price 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. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Barclays lifted their price objective on Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Finally, Truist Financial lifted their target price on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.