National Pension Service Acquires 83,110 Shares of The Bank of New York Mellon Co. (NYSE:BK)

National Pension Service boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK – Get Rating) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,554,814 shares of the bank’s stock after purchasing an additional 83,110 shares during the quarter. National Pension Service owned about 0.19% of Bank of New York Mellon worth $60,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Hazlett Burt & Watson Inc. raised its holdings in Bank of New York Mellon by 132.2% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 692 shares of the bank’s stock worth $26,000 after purchasing an additional 394 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $26,000. Brown Brothers Harriman & Co. grew its position in shares of Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after buying an additional 300 shares during the period. Gradient Investments LLC grew its position in shares of Bank of New York Mellon by 74.0% during the 3rd quarter. Gradient Investments LLC now owns 802 shares of the bank’s stock worth $31,000 after buying an additional 341 shares during the period. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $32,000. 82.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Bank of New York Mellon from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 1st. Wolfe Research upgraded Bank of New York Mellon from a “peer perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research report on Wednesday, January 4th. The Goldman Sachs Group upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Wednesday, January 4th. Citigroup boosted their price objective on Bank of New York Mellon from $50.00 to $55.00 in a research report on Friday, December 9th. Finally, Barclays boosted their price objective on Bank of New York Mellon from $57.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Hold” and a consensus price target of $52.19.

Bank of New York Mellon Trading Down 3.8 %

NYSE:BK opened at $44.01 on Thursday. The Bank of New York Mellon Co. has a twelve month low of $36.22 and a twelve month high of $53.63. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.86. The business has a 50 day moving average price of $49.70 and a two-hundred day moving average price of $45.20. The company has a market cap of $35.19 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.22 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK – Get Rating) last released its quarterly earnings results on Friday, January 13th. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Bank of New York Mellon had a return on equity of 10.78% and a net margin of 12.87%. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm posted $1.04 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, analysts expect that The Bank of New York Mellon Co. will post 4.83 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 3rd. Shareholders of record on Monday, January 23rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Friday, January 20th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 51.03%.

About Bank of New York Mellon

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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the following segments: Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segment. The Securities Services segment includes Asset Servicing business, which provides global custody, fund accounting, integrated middle-office solutions, transfer agency and data and analytics solutions.