Pictet Asset Management Holding SA Raises Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Pictet Asset Management Holding SA lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 12.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 485,346 shares of the bank’s stock after buying an additional 52,112 shares during the period. Pictet Asset Management Holding SA’s holdings in Bank of New York Mellon were worth $37,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Czech National Bank increased its position in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after acquiring an additional 7,316 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after purchasing an additional 184,560 shares during the period. Fifth Third Bancorp grew its holdings in Bank of New York Mellon by 9.2% during the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock valued at $7,226,000 after purchasing an additional 7,935 shares during the last quarter. Natixis Advisors LLC raised its position in Bank of New York Mellon by 6.5% in the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after purchasing an additional 17,457 shares during the period. Finally, Western Financial Corp CA bought a new stake in Bank of New York Mellon in the fourth quarter worth about $342,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 2.1 %

Bank of New York Mellon stock opened at $82.67 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $59.35 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.97 and a beta of 1.06. The business has a fifty day moving average of $85.34 and a two-hundred day moving average of $79.69. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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 revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. On average, analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given 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 yield of 2.27%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

BK has been the topic of a number of analyst reports. UBS Group upped their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Citigroup lifted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.71.

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.