Principal Financial Group Inc. Has $66.06 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Principal Financial Group Inc. lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 859,820 shares of the bank’s stock after selling 24,033 shares during the period. Principal Financial Group Inc.’s holdings in Bank of New York Mellon were worth $66,060,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BK. Studio Investment Management LLC boosted its stake in Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after purchasing an additional 134 shares during the period. Stanley Laman Group Ltd. boosted its position in shares of Bank of New York Mellon by 2.2% during the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after buying an additional 135 shares during the period. Grove Bank & Trust grew its holdings in shares of Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after buying an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after buying an additional 137 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after acquiring an additional 139 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BK. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Truist Financial lifted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Evercore ISI increased their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $88.36 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm has a market cap of $64.24 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 0.99 and a beta of 1.08. The stock’s fifty day moving average price is $81.71 and its two-hundred day moving average price is $76.00. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 earnings per share. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.93 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Bank of New York Mellon Company 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.