World Investment Advisors Buys 5,408 Shares of The Bank of New York Mellon Co. (NYSE:BK)

World Investment Advisors grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 14.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 41,833 shares of the bank’s stock after acquiring an additional 5,408 shares during the quarter. World Investment Advisors’ holdings in Bank of New York Mellon were worth $3,214,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BK. Norges Bank acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $1,150,462,000. Wellington Management Group LLP boosted its holdings in shares of Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $90,955,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Bank of New York Mellon by 17.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after purchasing an additional 1,125,493 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth $62,589,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Down 8.4 %

BK stock opened at $73.17 on Friday. The firm has a market capitalization of $52.53 billion, a PE ratio of 12.59, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The stock’s 50 day moving average is $84.98 and its 200-day moving average is $79.95.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $1.28 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.57%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analyst Ratings Changes

Several research firms recently weighed in on BK. Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Truist Financial cut their target price on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $89.86.

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.