BI Asset Management Fondsmaeglerselskab A S Purchases 31,280 Shares of The Bank of New York Mellon Corporation $BK

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 81.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,515 shares of the bank’s stock after acquiring an additional 31,280 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Bank of New York Mellon were worth $7,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Westside Investment Management Inc. increased its stake in Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Bank of New York Mellon in the third quarter valued at approximately $33,000. GFG Capital LLC acquired a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $36,000. Caldwell Trust Co bought a new stake in shares of Bank of New York Mellon during the second quarter worth $36,000. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Bank of New York Mellon by 89.0% during the second quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock worth $41,000 after acquiring an additional 210 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 0.7%

NYSE:BK opened at $120.52 on Friday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $125.89. The firm has a market capitalization of $84.04 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average price is $118.05 and its two-hundred day moving average price is $110.04.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.07 billion during the quarter. Equities research analysts expect 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. New Street Research set a $143.00 price objective on Bank of New York Mellon in a report on Wednesday, January 14th. Morgan Stanley boosted their target price on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, Barclays raised their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.