Genus Capital Management Inc. Has $4.38 Million Stock Position in The Bank of New York Mellon Corporation $BK

Genus Capital Management Inc. raised its position in The Bank of New York Mellon Corporation (NYSE:BK) by 57.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,097 shares of the bank’s stock after acquiring an additional 17,587 shares during the period. Genus Capital Management Inc.’s holdings in Bank of New York Mellon were worth $4,382,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BK. Nuveen LLC bought a new position in Bank of New York Mellon in the 1st quarter valued at $773,627,000. AustralianSuper Pty Ltd bought a new position in Bank of New York Mellon in the 1st quarter valued at $92,502,000. Goldman Sachs Group Inc. boosted its position in 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 last quarter. Wellington Management Group LLP boosted its position in 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 last quarter. Finally, AQR Capital Management LLC boosted its position in 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 last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 24th. Citigroup increased their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. The Goldman Sachs Group increased 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 report on Monday, October 6th. Wells Fargo & Company increased 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 report on Friday, October 17th. Finally, Truist Financial increased their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.29.

Bank of New York Mellon Stock Down 0.0%

NYSE:BK opened at $108.02 on Wednesday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87. 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 firm has a market capitalization of $76.18 billion, a P/E ratio of 15.59, a P/E/G ratio of 0.98 and a beta of 1.13. The stock’s fifty day simple moving average is $106.86 and its 200-day simple moving average is $97.44.

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

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be paid 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 dividend payout ratio (DPR) is presently 30.59%.

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.