PGGM Investments Buys 7,455 Shares of The Bank of New York Mellon Co. (NYSE:BK)

PGGM Investments boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,252 shares of the bank’s stock after purchasing an additional 7,455 shares during the period. PGGM Investments’ holdings in Bank of New York Mellon were worth $15,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Centricity Wealth Management LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $39,000. Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the third quarter worth about $46,000. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $49,000. Friedenthal Financial purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $56,000. Finally, Asset Dedication LLC lifted its stake in shares of Bank of New York Mellon by 342.1% in the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after purchasing an additional 585 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock opened at $80.70 on Thursday. 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’s fifty day moving average price is $84.16 and its 200-day moving average price is $78.28. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company has a market capitalization of $57.94 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 2.33%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.71.

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.