Simplicity Wealth LLC Has $997,000 Holdings in The Bank of New York Mellon Corporation $BK

Simplicity Wealth LLC lessened its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 35.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,146 shares of the bank’s stock after selling 5,005 shares during the period. Simplicity Wealth LLC’s holdings in Bank of New York Mellon were worth $997,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BK. Vanguard Group Inc. raised its stake in Bank of New York Mellon by 0.7% during the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after acquiring an additional 517,081 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Bank of New York Mellon by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock worth $1,717,074,000 after purchasing an additional 785,478 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Bank of New York Mellon by 0.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock worth $1,439,831,000 after purchasing an additional 139,544 shares in the last quarter. Norges Bank bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Bank of New York Mellon by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after buying an additional 577,621 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Down 2.1%

NYSE:BK opened at $117.71 on Friday. The company has a market cap of $82.09 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.12 and a beta of 1.11. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The stock’s fifty day moving average price is $115.93 and its two-hundred day moving average price is $108.48. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $125.89.

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. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion during the quarter. On average, analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BK shares. Royal Bank Of Canada raised their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. TD Cowen raised their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Citigroup lifted their price objective on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Barclays increased their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, BMO Capital Markets initiated coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price for the company. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.92.

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.