Nordea Investment Management AB Has $5.66 Million Holdings in The Bank of New York Mellon Corporation $BK

Nordea Investment Management AB boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,222 shares of the bank’s stock after buying an additional 1,944 shares during the period. Nordea Investment Management AB’s holdings in Bank of New York Mellon were worth $5,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BK. Nuveen LLC acquired a new stake in Bank of New York Mellon during the 1st quarter worth about $773,627,000. AustralianSuper Pty Ltd purchased a new position in Bank of New York Mellon during the 1st quarter valued at about $92,502,000. Goldman Sachs Group Inc. grew its stake in shares of Bank of New York Mellon by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after buying an additional 1,052,145 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Bank of New York Mellon by 257.6% in the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock valued at $103,685,000 after buying an additional 890,593 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Bank of New York Mellon by 37.7% in the 1st quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after buying an additional 887,361 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent analyst reports. BMO Capital Markets assumed coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price for the company. Truist Financial upped their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Stock Up 2.4%

BK stock opened at $108.50 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87. The business has a 50 day moving average price of $105.70 and a two-hundred day moving average price of $94.89. The company has a market cap of $76.52 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, October 27th. Bank of New York Mellon’s payout ratio is 30.59%.

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.