The Bank of New York Mellon Corporation $BK Shares Purchased by Strategic Blueprint LLC

Strategic Blueprint LLC boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 17.9% during the 2nd quarter, Holdings Channel reports. The fund owned 3,277 shares of the bank’s stock after acquiring an additional 497 shares during the quarter. Strategic Blueprint LLC’s holdings in Bank of New York Mellon were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Bank of New York Mellon during the 1st quarter valued at $773,627,000. AustralianSuper Pty Ltd acquired a new position in shares of Bank of New York Mellon during the 1st quarter valued at $92,502,000. Goldman Sachs Group Inc. increased its position in shares of Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares during the period. Wellington Management Group LLP increased its position in shares of Bank of New York Mellon by 257.6% during the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock valued at $103,685,000 after purchasing an additional 890,593 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Bank of New York Mellon by 37.7% during the 1st quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after purchasing an additional 887,361 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BK has been the topic of several research analyst reports. TD Cowen lifted their price target on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. BMO Capital Markets began coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target on the stock. Evercore ISI raised their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Stock Performance

BK opened at $107.91 on Monday. The firm has a market cap of $76.10 billion, a PE ratio of 15.57, a P/E/G ratio of 0.99 and a beta of 1.13. 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 business has a fifty day simple moving average of $106.07 and a 200-day simple moving average of $95.79. 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.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 EPS 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%. As a group, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Monday, October 27th will be given 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 (DPR) is 30.59%.

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.