Sumitomo Mitsui Trust Group Inc. Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Sumitomo Mitsui Trust Group Inc. increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,727,601 shares of the bank’s stock after buying an additional 3,469 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Bank of New York Mellon were worth $132,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares during the period. Wellington Management Group LLP increased its position in shares of Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after acquiring an additional 3,142,869 shares in the last quarter. Zacks Investment Management purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $62,589,000. State Street Corp lifted its holdings in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after acquiring an additional 659,096 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in Bank of New York Mellon by 248.3% during the 3rd quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock worth $61,715,000 after purchasing an additional 612,287 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $86.15 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market capitalization of $62.64 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $87.70. The company’s 50-day simple moving average is $80.61 and its 200-day simple moving average is $74.51.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. Equities analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Analysts Set New Price Targets

BK has been the topic of several research reports. Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Citigroup upped their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Finally, Evercore ISI upped their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

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.