Livforsakringsbolaget Skandia Omsesidigt Raises Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Livforsakringsbolaget Skandia Omsesidigt grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 95.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,539 shares of the bank’s stock after buying an additional 750 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Bank of New York Mellon were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BK. Norges Bank purchased a new stake in shares of Bank of New York Mellon in the 4th quarter worth $503,489,000. Moneta Group Investment Advisors LLC lifted its stake in shares of Bank of New York Mellon by 74,433.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after purchasing an additional 6,106,537 shares during the last quarter. Barclays PLC lifted its stake in shares of Bank of New York Mellon by 126.2% during the 2nd quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock worth $128,462,000 after purchasing an additional 1,609,730 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Bank of New York Mellon during the 1st quarter worth $66,916,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Bank of New York Mellon by 142.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock worth $69,125,000 after purchasing an additional 951,730 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BK. Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup upped their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Bank of America increased their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $60.06.

Insider Activity

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

Bank of New York Mellon Stock Up 1.9 %

Shares of BK stock opened at $56.29 on Friday. The stock’s 50-day simple moving average is $55.76 and its 200-day simple moving average is $51.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The firm has a market capitalization of $42.38 billion, a PE ratio of 13.73, a P/E/G ratio of 1.15 and a beta of 1.12. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.13 earnings per share. Equities analysts expect that The Bank of New York Mellon Co. will post 5.4 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

Bank of New York Mellon 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.