iA Global Asset Management Inc. Has $1.80 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

iA Global Asset Management Inc. grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 117.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,416 shares of the bank’s stock after purchasing an additional 12,629 shares during the period. iA Global Asset Management Inc.’s holdings in Bank of New York Mellon were worth $1,799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. State Street Corp grew its stake in shares of Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after buying an additional 659,096 shares in the last quarter. FMR LLC grew its stake in shares of 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 in the last quarter. Amundi grew its stake in shares of Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after buying an additional 359,942 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Bank of New York Mellon by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after buying an additional 117,974 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake 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 valued at $234,189,000 after buying an additional 3,142,869 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BK has been the subject of several analyst reports. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Bank of America lifted their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Bank of New York Mellon Stock Down 0.6 %

BK opened at $83.46 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $90.34. 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 company has a market capitalization of $59.92 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.97 and a beta of 1.06. The stock has a fifty day moving average of $84.88 and a 200-day moving average of $78.94.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate 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 company’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.