Dimensional Fund Advisors LP Trims Stake in The Bank of New York Mellon Co. (NYSE:BK)

Dimensional Fund Advisors LP lessened its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,268,767 shares of the bank’s stock after selling 28,541 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Bank of New York Mellon were worth $558,464,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Czech National Bank increased its stake in Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after purchasing an additional 7,316 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Bank of New York Mellon by 11.7% in the 4th 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 grew its stake in Bank of New York Mellon by 9.2% in the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after acquiring an additional 7,935 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock valued at $21,971,000 after acquiring an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA bought a new position in Bank of New York Mellon in the fourth quarter worth approximately $342,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.7 %

Shares of NYSE:BK opened at $76.25 on Friday. The business has a 50-day moving average price of $82.72 and a 200-day moving average price of $80.29. The stock has a market cap of $54.75 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52-week low of $55.42 and a 52-week 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.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the previous year, the business posted $1.29 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent research reports. Morgan Stanley dropped their target price on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Citigroup boosted their price target on 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. UBS Group lifted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.31.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the firm’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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.