Korea Investment CORP Sells 13,199 Shares of The Bank of New York Mellon Corporation $BK

Korea Investment CORP lowered its position in The Bank of New York Mellon Corporation (NYSE:BK) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,930 shares of the bank’s stock after selling 13,199 shares during the quarter. Korea Investment CORP’s holdings in Bank of New York Mellon were worth $60,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at $220,000. Sivia Capital Partners LLC lifted its stake in Bank of New York Mellon by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after purchasing an additional 909 shares during the last quarter. Ignite Planners LLC purchased a new stake in Bank of New York Mellon during the second quarter valued at about $240,000. Vestmark Advisory Solutions Inc. boosted its position in Bank of New York Mellon by 4.0% during the second quarter. Vestmark Advisory Solutions Inc. now owns 2,771 shares of the bank’s stock valued at $252,000 after buying an additional 107 shares during the period. Finally, AE Wealth Management LLC grew its stake in shares of Bank of New York Mellon by 11.9% during the second quarter. AE Wealth Management LLC now owns 19,414 shares of the bank’s stock valued at $1,769,000 after buying an additional 2,066 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BK. Morgan Stanley boosted their target price on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 price target on Bank of New York Mellon in a research report on Wednesday, January 14th. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Finally, Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $115.22 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $79.30 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.08 and a beta of 1.10. The business has a fifty day simple moving average of $119.69 and a two-hundred day simple moving average of $112.83. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, equities analysts forecast 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 Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is 28.61%.

About Bank of New York Mellon

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.