Aviva PLC Sells 65,468 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Aviva PLC cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 831,938 shares of the bank’s stock after selling 65,468 shares during the period. Aviva PLC owned 0.11% of Bank of New York Mellon worth $63,918,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Czech National Bank increased its position in Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock valued at $60,426,000 after buying an additional 82,671 shares during the period. Fifth Third Bancorp increased its position in shares of Bank of New York Mellon by 9.2% during the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock valued at $7,226,000 after buying an additional 7,935 shares during the period. Natixis Advisors LLC raised its stake in Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after buying an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA purchased a new stake in Bank of New York Mellon in the fourth quarter worth about $342,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $73.17 on Friday. The firm has a market cap of $52.53 billion, a P/E ratio of 12.59, a PEG ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. 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 company has a 50 day moving average of $84.98 and a 200 day moving average of $80.02.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. As a group, research 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BK. Barclays increased their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup upped their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Truist Financial dropped their price objective 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 note on Friday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.86.

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.