Voya Investment Management LLC Sells 476,015 Shares of The Bank of New York Mellon Corporation $BK

Voya Investment Management LLC cut its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 57.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,012 shares of the bank’s stock after selling 476,015 shares during the quarter. Voya Investment Management LLC owned 0.05% of Bank of New York Mellon worth $38,573,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Canada Post Corp Registered Pension Plan purchased a new position in shares of Bank of New York Mellon during the first quarter valued at approximately $1,035,000. Investment Management Corp of Ontario grew its position in Bank of New York Mellon by 25.9% in the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock worth $11,435,000 after purchasing an additional 25,842 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Bank of New York Mellon by 150.5% during 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 buying an additional 51,457 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings 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 valued at $56,553,000 after buying an additional 348,162 shares during the period. Finally, OMNI 360 Wealth Inc. purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth $230,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $115.79 on Friday. The firm has a market cap of $80.74 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.05 and a beta of 1.12. The firm has a fifty day moving average price of $110.43 and a 200 day moving average price of $103.56. 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 Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $119.40.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 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 $5.07 billion for the quarter. As a group, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.59%.

Analyst Ratings Changes

A number of research firms recently commented on BK. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. The Goldman Sachs Group upped their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. TD Cowen upped their target price on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, October 20th. Evercore ISI raised their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Truist Financial boosted their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Ten 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $111.86.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.