National Pension Service Buys 325,786 Shares of The Bank of New York Mellon Co. (NYSE:BK)

National Pension Service lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 17.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,177,055 shares of the bank’s stock after purchasing an additional 325,786 shares during the period. National Pension Service’s holdings in Bank of New York Mellon were worth $167,263,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BK. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth approximately $39,000. Fortitude Family Office LLC boosted its stake in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $46,000. Modus Advisors LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at $49,000. Finally, Friedenthal Financial acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $56,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.6 %

Shares of NYSE BK opened at $86.23 on Thursday. The stock has a market capitalization of $62.70 billion, a P/E ratio of 14.84, a PEG ratio of 0.97 and a beta of 1.08. The stock’s fifty day moving average is $82.59 and its 200 day moving average is $76.86. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $89.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.18%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Truist Financial raised their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Barclays upped their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

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.