Railway Pension Investments Ltd Has $6.41 Million Position in The Bank of New York Mellon Corporation $BK

Railway Pension Investments Ltd lessened its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 5.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 70,300 shares of the bank’s stock after selling 3,800 shares during the period. Railway Pension Investments Ltd’s holdings in Bank of New York Mellon were worth $6,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BK. Norges Bank acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $1,081,847,000. Nuveen LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $773,627,000. Goldman Sachs Group Inc. grew its stake in shares of Bank of New York Mellon by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Bank of New York Mellon by 257.6% in the first quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock valued at $103,685,000 after purchasing an additional 890,593 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Bank of New York Mellon by 37.7% in the first quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after purchasing an additional 887,361 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent research reports. Truist Financial increased their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, October 17th. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Finally, Evercore ISI boosted their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Price Performance

Shares of BK opened at $111.94 on Monday. The stock has a 50 day simple moving average of $108.23 and a 200 day simple moving average of $100.95. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $113.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a market capitalization of $78.06 billion, a PE ratio of 16.15, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The firm had revenue of $4.38 billion for the quarter. Sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Bank of New York Mellon 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.