The Bank of New York Mellon Corporation $BK Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,040 shares of the bank’s stock after purchasing an additional 4,324 shares during the period. iA Global Asset Management Inc.’s holdings in Bank of New York Mellon were worth $3,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Investment Management Corp of Ontario boosted its stake in shares of Bank of New York Mellon by 25.9% in the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after buying an additional 25,842 shares in the last quarter. First National Advisers LLC purchased a new position in Bank of New York Mellon in the third quarter worth $3,304,000. Permanent Capital Management LP acquired a new stake in Bank of New York Mellon in the third quarter valued at $2,262,000. First Horizon Corp purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $22,072,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Bank of New York Mellon by 36.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 2.1%

Shares of BK stock opened at $117.71 on Friday. The firm has a 50-day moving average price of $115.93 and a 200 day moving average price of $108.48. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $125.89. The company has a market capitalization of $82.09 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.12 and a beta of 1.11. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be issued a $0.53 dividend. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s payout ratio is 28.61%.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Evercore ISI upped their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Monday, December 29th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company raised their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.