The Bank of New York Mellon Co. (NYSE:BK) Stock Holdings Lifted by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 95.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,539 shares of the bank’s stock after acquiring an additional 750 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Bank of New York Mellon were worth $80,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its holdings in shares of Bank of New York Mellon by 10.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 75,900 shares of the bank’s stock valued at $3,950,000 after acquiring an additional 6,960 shares in the last quarter. Scissortail Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $560,000. Tyche Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $428,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bank of New York Mellon by 153.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after acquiring an additional 941,193 shares in the last quarter. Finally, West Paces Advisors Inc. grew its holdings in shares of Bank of New York Mellon by 177.8% during the 4th quarter. West Paces Advisors Inc. now owns 1,964 shares of the bank’s stock valued at $102,000 after acquiring an additional 1,257 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 1.9 %

BK stock opened at $56.29 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The company has a 50-day moving average of $55.76 and a two-hundred day moving average of $51.23. The stock has a market capitalization of $42.38 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.39 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.4 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

Analysts Set New Price Targets

Several equities analysts have recently commented on BK shares. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. Citigroup upped their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Bank of America upped their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $60.06.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

About Bank of New York Mellon

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.