The Bank of New York Mellon Corporation $BK Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL reduced its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,442,814 shares of the bank’s stock after selling 45,014 shares during the quarter. Bank of New York Mellon accounts for about 1.3% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 7th largest holding. Gamco Investors INC. ET AL’s holdings in Bank of New York Mellon were worth $131,455,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Canada Post Corp Registered Pension Plan bought a new stake in shares of Bank of New York Mellon in the first quarter valued at about $1,035,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in 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 valued at $7,804,000 after acquiring an additional 51,457 shares in the last quarter. Nuveen LLC bought a new stake in Bank of New York Mellon in the 1st quarter valued at approximately $773,627,000. LGT Group Foundation boosted its position in Bank of New York Mellon by 125.8% during the 1st quarter. LGT Group Foundation now owns 373,577 shares of the bank’s stock worth $31,332,000 after acquiring an additional 208,118 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Bank of New York Mellon by 127.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 620,715 shares of the bank’s stock worth $56,553,000 after acquiring an additional 348,162 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. The Goldman Sachs Group increased their price objective on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. TD Cowen lifted their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Citigroup increased their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Finally, Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Trading Up 0.1%

Shares of NYSE:BK opened at $114.07 on Friday. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $114.96. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $79.55 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.12. The company has a 50-day simple moving average of $108.63 and a 200 day simple moving average of $101.68.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The firm had revenue of $4.38 billion for the quarter. Sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.9%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

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.