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

Securian Asset Management Inc. lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,077 shares of the bank’s stock after selling 1,737 shares during the period. Securian Asset Management Inc.’s holdings in Bank of New York Mellon were worth $3,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $39,000. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon during the third quarter valued at approximately $46,000. Modus Advisors LLC purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $49,000. Friedenthal Financial purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $56,000. Finally, Asset Dedication LLC grew its stake in Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after acquiring an additional 585 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $80.70 on Thursday. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The stock 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 fifty day moving average of $84.16 and a 200-day moving average of $78.28. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective 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. UBS Group boosted their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Bank of America boosted their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.