Orion Portfolio Solutions LLC Sells 7,790 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Orion Portfolio Solutions LLC reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 19.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,078 shares of the bank’s stock after selling 7,790 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Bank of New York Mellon were worth $2,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BK. Pictet Asset Management Holding SA raised its holdings in Bank of New York Mellon by 12.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 485,346 shares of the bank’s stock worth $37,289,000 after purchasing an additional 52,112 shares during the period. New Age Alpha Advisors LLC raised its stake in shares of Bank of New York Mellon by 5,626.8% in the fourth quarter. New Age Alpha Advisors LLC now owns 14,546 shares of the bank’s stock worth $1,118,000 after buying an additional 14,292 shares during the period. Norges Bank purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $1,150,462,000. Blair William & Co. IL grew its stake in shares of Bank of New York Mellon by 3.9% during the 4th quarter. Blair William & Co. IL now owns 24,605 shares of the bank’s stock valued at $1,890,000 after acquiring an additional 930 shares during the period. Finally, Caisse Des Depots ET Consignations purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $6,501,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BK. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. UBS Group raised their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Barclays upped their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Bank of New York Mellon Trading Down 0.2 %

Shares of BK opened at $83.74 on Wednesday. The stock has a market capitalization of $60.12 billion, a PE ratio of 14.41, a P/E/G ratio of 0.97 and a beta of 1.06. The company’s fifty day moving average is $85.33 and its 200 day moving average is $79.90. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34.

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

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Bank of New York Mellon Company 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.