Russell Investments Group Ltd. Boosts Stake in The Bank of New York Mellon Corporation $BK

Russell Investments Group Ltd. boosted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 52.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 889,460 shares of the bank’s stock after buying an additional 304,346 shares during the period. Russell Investments Group Ltd.’s holdings in Bank of New York Mellon were worth $96,991,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $33,000. Caldwell Trust Co purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $36,000. Westside Investment Management Inc. boosted its position in shares of Bank of New York Mellon by 44.1% during the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after acquiring an additional 242 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at $52,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.0%

Shares of BK opened at $115.18 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average of $119.65 and a 200 day moving average of $112.92. The company has a market cap of $79.27 billion, a PE ratio of 15.54, a P/E/G ratio of 1.08 and a beta of 1.10. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76.

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

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BK. TD Cowen boosted their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Finally, Morgan Stanley upped their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.92.

About Bank of New York Mellon

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.