Northwestern Mutual Wealth Management Co. Buys 932 Shares of The Bank of New York Mellon Corporation $BK

Northwestern Mutual Wealth Management Co. lifted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 0.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,969 shares of the bank’s stock after buying an additional 932 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bank of New York Mellon were worth $9,564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Bank of New York Mellon in the 1st quarter worth $773,627,000. Goldman Sachs Group Inc. grew its position 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 in 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 worth $103,685,000 after purchasing an additional 890,593 shares during the last quarter. AQR Capital Management LLC lifted its position 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 worth $266,349,000 after buying an additional 887,361 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Bank of New York Mellon by 126.9% in the first quarter. Citigroup Inc. now owns 1,557,145 shares of the bank’s stock worth $130,598,000 after buying an additional 870,844 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $111.80 on Tuesday. The firm has a market capitalization of $77.97 billion, a PE ratio of 16.13, a PEG ratio of 0.98 and a beta of 1.13. The stock’s fifty day moving average is $108.27 and its 200 day moving average is $101.11. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two 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.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data 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 business had revenue of $4.38 billion for the quarter. On average, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on BK. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of New York Mellon in a research report on Tuesday, November 25th. Citigroup boosted their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. TD Cowen upped their price target on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $111.29.

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.