Mitsubishi UFJ Asset Management Co. Ltd. Purchases 73,391 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,152,045 shares of the bank’s stock after buying an additional 73,391 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Bank of New York Mellon were worth $88,627,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp increased its stake in 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 acquiring an additional 659,096 shares during the period. Amundi boosted its holdings in Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after purchasing 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 3rd 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 purchasing an additional 117,974 shares during the period. Wellington Management Group LLP raised its holdings in shares of Bank of New York Mellon by 2,707.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after buying an additional 3,142,869 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Bank of New York Mellon by 8.3% during the 3rd quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock worth $172,348,000 after buying an additional 173,347 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.5 %

BK opened at $84.63 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 market cap of $60.77 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $85.35 and a 200 day simple moving average of $79.42.

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

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. 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 2.22%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Analyst Ratings Changes

Several brokerages recently issued reports on BK. UBS Group lifted their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $89.71.

About Bank of New York Mellon

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.