Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in The Bank of New York Mellon Corporation $BK

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.5% during the third quarter, HoldingsChannel.com reports. The firm owned 1,410,173 shares of the bank’s stock after buying an additional 47,577 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Bank of New York Mellon were worth $153,652,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Revolve Wealth Partners LLC purchased a new stake in Bank of New York Mellon in the fourth quarter valued at about $220,000. Sivia Capital Partners LLC increased its holdings in shares of Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after acquiring an additional 909 shares in the last quarter. Ignite Planners LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $240,000. Y Intercept Hong Kong Ltd boosted its stake in Bank of New York Mellon by 62.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 15,092 shares of the bank’s stock worth $1,375,000 after purchasing an additional 5,818 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Bank of New York Mellon by 25.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 100,627 shares of the bank’s stock worth $9,168,000 after purchasing an additional 20,600 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on BK shares. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Barclays upped their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Weiss Ratings lowered Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. Finally, TD Cowen lifted their target price on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Price Performance

Shares of BK opened at $121.50 on Friday. The business’s 50-day moving average is $119.62 and its two-hundred day moving average is $112.02. The company has a market capitalization of $84.73 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.12 and a beta of 1.10. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. Research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is currently 28.61%.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.