Securian Asset Management Inc. Sells 1,737 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Securian Asset Management Inc. reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,077 shares of the bank’s stock after selling 1,737 shares during the quarter. Securian Asset Management Inc.’s holdings in Bank of New York Mellon were worth $3,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Bank of New York Mellon by 64.7% in the 3rd quarter. Assetmark Inc. now owns 1,869 shares of the bank’s stock worth $134,000 after purchasing an additional 734 shares in the last quarter. Covestor Ltd raised its holdings in Bank of New York Mellon by 216.3% in the 3rd quarter. Covestor Ltd now owns 1,297 shares of the bank’s stock worth $93,000 after purchasing an additional 887 shares in the last quarter. Sigma Planning Corp raised its holdings in Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after purchasing an additional 143 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth $46,000. Finally, Venturi Wealth Management LLC raised its holdings in Bank of New York Mellon by 21.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,147 shares of the bank’s stock worth $82,000 after purchasing an additional 203 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $80.70 on Thursday. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company’s 50-day moving average is $84.16 and its 200 day moving average is $78.28. The company has a market capitalization of $57.94 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analyst Ratings Changes

Several research analysts have commented on BK shares. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. UBS Group increased their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.71.

About Bank of New York Mellon

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.