Massachusetts Financial Services Co. MA boosted its stake in The Bank of New York Mellon Co. (NYSE:BK – Free Report) by 142.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,620,749 shares of the bank’s stock after buying an additional 951,730 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.21% of Bank of New York Mellon worth $69,125,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its position in Bank of New York Mellon by 14.5% in the 2nd quarter. Parallel Advisors LLC now owns 5,808 shares of the bank’s stock valued at $259,000 after buying an additional 736 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Bank of New York Mellon by 22.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after buying an additional 465,229 shares during the last quarter. Czech National Bank grew its stake in Bank of New York Mellon by 60.1% in the 3rd quarter. Czech National Bank now owns 136,115 shares of the bank’s stock valued at $5,805,000 after purchasing an additional 51,104 shares during the period. MML Investors Services LLC bought a new position in Bank of New York Mellon in the 2nd quarter valued at $6,681,000. Finally, Ascent Wealth Partners LLC grew its stake in Bank of New York Mellon by 4.9% in the 2nd quarter. Ascent Wealth Partners LLC now owns 24,486 shares of the bank’s stock valued at $1,090,000 after purchasing an additional 1,154 shares during the period. 81.29% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Bank of New York Mellon news, VP Hanneke Smits sold 15,425 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total value of $850,843.00. Following the completion of the transaction, the vice president now owns 119,656 shares in the company, valued at approximately $6,600,224.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Bank of New York Mellon Stock Down 0.3 %
BK stock opened at $55.10 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.71 and a current ratio of 0.72. The company has a market capitalization of $42.38 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.14 and a beta of 1.12. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $56.42. The stock has a fifty day moving average of $52.74 and a 200-day moving average of $47.24.
Bank of New York Mellon (NYSE:BK – Get Free Report) last issued its earnings results on Friday, January 12th. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. Bank of New York Mellon had a return on equity of 11.62% and a net margin of 10.01%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 5.21 earnings per share for the current year.
Bank of New York Mellon Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Monday, January 22nd were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 19th. This represents a $1.68 annualized dividend and a yield of 3.05%. Bank of New York Mellon’s dividend payout ratio is currently 42.32%.
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.
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