Handelsbanken Fonder AB Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Handelsbanken Fonder AB raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 235,254 shares of the bank’s stock after purchasing an additional 13,511 shares during the period. Handelsbanken Fonder AB’s holdings in Bank of New York Mellon were worth $12,245,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Northern Trust Corp lifted its holdings in shares of Bank of New York Mellon by 8.2% in the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after purchasing an additional 715,421 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Bank of New York Mellon by 1.5% in the third quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock valued at $373,505,000 after purchasing an additional 129,929 shares in the last quarter. Legal & General Group Plc raised its position in shares of Bank of New York Mellon by 0.9% in the third quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock valued at $281,912,000 after buying an additional 57,402 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Bank of New York Mellon by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock valued at $272,425,000 after buying an additional 226,834 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Bank of New York Mellon by 10.0% in the third quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock valued at $246,182,000 after buying an additional 524,912 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Jefferies Financial Group boosted their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, Bank of America boosted their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $57.45 on Wednesday. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The company has a 50 day moving average price of $55.86 and a 200 day moving average price of $51.58. The firm has a market capitalization of $43.25 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is currently 40.98%.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock valued at $5,459,897 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Company 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.