Hikari Power Ltd Sells 38,990 Shares of The Bank of New York Mellon Corporation $BK

Hikari Power Ltd lessened its position in The Bank of New York Mellon Corporation (NYSE:BK) by 15.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 205,810 shares of the bank’s stock after selling 38,990 shares during the quarter. Bank of New York Mellon accounts for approximately 1.6% of Hikari Power Ltd’s portfolio, making the stock its 13th largest holding. Hikari Power Ltd’s holdings in Bank of New York Mellon were worth $18,751,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BK. Nuveen LLC bought a new position in Bank of New York Mellon in the first quarter valued at $773,627,000. AustralianSuper Pty Ltd bought a new position in Bank of New York Mellon in the first quarter valued at $92,502,000. Goldman Sachs Group Inc. increased its stake in Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after acquiring an additional 1,052,145 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Bank of New York Mellon by 257.6% during the first 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 last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Bank of New York Mellon by 37.7% during the first 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 last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.2%

NYSE BK opened at $107.91 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The stock has a market capitalization of $76.10 billion, a PE ratio of 15.57, a PEG ratio of 0.99 and a beta of 1.13. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The business’s 50-day moving average is $106.07 and its 200 day moving average is $95.79.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The company had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BK. TD Cowen raised 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, October 20th. Barclays raised their price objective on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Wells Fargo & Company raised 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. Finally, Evercore ISI raised 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon 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.