The Bank of New York Mellon Corporation $BK Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. reduced its position in The Bank of New York Mellon Corporation (NYSE:BK) by 1.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 37,313 shares of the bank’s stock after selling 703 shares during the quarter. Securian Asset Management Inc.’s holdings in Bank of New York Mellon were worth $3,400,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BK. Nuveen LLC acquired a new position in Bank of New York Mellon in the 1st quarter valued at about $773,627,000. AustralianSuper Pty Ltd purchased a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $92,502,000. Goldman Sachs Group Inc. boosted its stake in shares of Bank of New York Mellon by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after buying an additional 1,052,145 shares during the period. Wellington Management Group LLP boosted its stake in shares of Bank of New York Mellon by 257.6% in the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock valued at $103,685,000 after buying an additional 890,593 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Bank of New York Mellon by 37.7% in the 1st quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after buying an additional 887,361 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK stock opened at $107.05 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87. The business has a 50 day moving average price of $105.77 and a 200 day moving average price of $94.98. The stock has a market cap of $75.50 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.00 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Equities research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BK. The Goldman Sachs Group lifted their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. TD Cowen lifted their price objective on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday. Evercore ISI lifted their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Finally, Truist Financial boosted their target price on Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $111.29.

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.