NN Investment Partners Holdings N.V. Buys 173,241 Shares of The Bank of New York Mellon Co. (NYSE:BK)


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NN Investment Partners Holdings N.V. lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 25.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 856,232 shares of the bank’s stock after purchasing an additional 173,241 shares during the quarter. NN Investment Partners Holdings N.V. owned 0.10% of The Bank of New York Mellon worth $40,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. JJJ Advisors Inc. grew its holdings in The Bank of New York Mellon by 1,936.7% during the 4th quarter. JJJ Advisors Inc. now owns 611 shares of the bank’s stock worth $26,000 after acquiring an additional 581 shares during the last quarter. Regent Peak Wealth Advisors LLC bought a new stake in The Bank of New York Mellon during the 4th quarter worth approximately $26,000. Wolff Wiese Magana LLC bought a new stake in The Bank of New York Mellon during the 4th quarter worth approximately $27,000. RWM Asset Management LLC bought a new stake in The Bank of New York Mellon during the 4th quarter worth approximately $30,000. Finally, CVA Family Office LLC bought a new stake in The Bank of New York Mellon during the 1st quarter worth approximately $34,000. 82.27% of the stock is currently owned by institutional investors.

Shares of BK stock traded up $0.17 on Tuesday, hitting $50.40. The stock had a trading volume of 217,534 shares, compared to its average volume of 5,832,057. The business has a 50 day moving average of $47.47 and a 200 day moving average of $42.60. The stock has a market cap of $44.20 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.38 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.65 and a quick ratio of 0.65. The Bank of New York Mellon Co. has a 12-month low of $31.24 and a 12-month high of $50.45.

The Bank of New York Mellon (NYSE:BK) last announced its earnings results on Thursday, April 15th. The bank reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.10. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.83 billion. The Bank of New York Mellon had a net margin of 23.09% and a return on equity of 9.89%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 earnings per share. As a group, research analysts expect that The Bank of New York Mellon Co. will post 3.96 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 11th. Investors of record on Wednesday, April 28th will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, April 27th. This represents a $1.24 annualized dividend and a yield of 2.46%. The Bank of New York Mellon’s payout ratio is currently 30.85%.

A number of equities research analysts have weighed in on BK shares. Piper Sandler boosted their target price on shares of The Bank of New York Mellon from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, January 11th. Barclays upped their price objective on shares of The Bank of New York Mellon from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, April 7th. Royal Bank of Canada upped their price objective on shares of The Bank of New York Mellon from $43.00 to $49.00 and gave the company a “sector perform” rating in a research note on Thursday, January 21st. Morgan Stanley reduced their price objective on shares of The Bank of New York Mellon from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, April 26th. Finally, Smith Barney Citigroup upgraded shares of The Bank of New York Mellon from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.00 to $57.00 in a research report on Monday, January 11th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $49.80.

In related news, insider Kurtis R. Kurimsky sold 10,878 shares of the stock in a transaction dated Monday, April 19th. The shares were sold at an average price of $46.89, for a total transaction of $510,069.42. Following the completion of the transaction, the insider now owns 25,034 shares in the company, valued at $1,173,844.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 35,000 shares of the stock in a transaction dated Monday, April 19th. The shares were sold at an average price of $46.79, for a total transaction of $1,637,650.00. Following the transaction, the executive vice president now owns 114,714 shares of the company’s stock, valued at approximately $5,367,468.06. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

About The Bank of New York Mellon

The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the Investment Services and Investment Management segments. The Investment Services segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange.

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Institutional Ownership by Quarter for The Bank of New York Mellon (NYSE:BK)

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