AMF Tjanstepension AB Has $18.54 Million Stake in The Bank of New York Mellon Corporation $BK

AMF Tjanstepension AB lifted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 13.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 203,294 shares of the bank’s stock after acquiring an additional 24,654 shares during the period. AMF Tjanstepension AB’s holdings in Bank of New York Mellon were worth $18,535,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BK. Opal Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon during the first quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon during the 1st quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its holdings in Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after acquiring an additional 196 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $32,000. Finally, Hoey Investments Inc. bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth $32,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on BK shares. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday. They set an “outperform” rating and a $125.00 target price for the company. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Evercore ISI lifted their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday. Finally, TD Cowen started coverage on Bank of New York Mellon in a report on Thursday, September 25th. They set a “buy” rating for the company. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.46.

Bank of New York Mellon Trading Up 0.1%

NYSE:BK opened at $106.48 on Friday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $110.87. The firm has a 50-day moving average price of $104.60 and a two-hundred day moving average price of $92.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $75.09 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.51 EPS. On average, equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s payout ratio is 32.37%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the sale, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

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.