The Bank of New York Mellon Co. (NYSE:BK) Position Boosted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,152,045 shares of the bank’s stock after purchasing an additional 73,391 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Bank of New York Mellon worth $88,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Graney & King LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $35,000. Borer Denton & Associates Inc. raised its position in shares of Bank of New York Mellon by 9.0% during the fourth quarter. Borer Denton & Associates Inc. now owns 29,009 shares of the bank’s stock worth $2,229,000 after purchasing an additional 2,389 shares during the period. Financial Counselors Inc. lifted its holdings in shares of Bank of New York Mellon by 4.5% during the fourth quarter. Financial Counselors Inc. now owns 4,260 shares of the bank’s stock valued at $327,000 after purchasing an additional 184 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Bank of New York Mellon by 6.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,035,321 shares of the bank’s stock valued at $79,544,000 after purchasing an additional 58,499 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in Bank of New York Mellon by 4.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,414 shares of the bank’s stock worth $1,953,000 after purchasing an additional 1,045 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

BK opened at $84.63 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average price is $85.35 and its two-hundred day moving average price is $79.42. The firm has a market capitalization of $60.77 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34.

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 the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company posted $1.28 earnings per share. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analyst Ratings Changes

BK has been the topic of several research analyst reports. Truist Financial lifted 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. Evercore ISI lifted their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.71.

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.