New York Life Investment Management LLC Has $11.21 Million Stake in The Bank of New York Mellon Corporation $BK

New York Life Investment Management LLC reduced its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.9% in the third quarter, HoldingsChannel.com reports. The firm owned 102,916 shares of the bank’s stock after selling 4,174 shares during the period. New York Life Investment Management LLC’s holdings in Bank of New York Mellon were worth $11,214,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Bank of New York Mellon during the 2nd quarter valued at $1,081,847,000. Qube Research & Technologies Ltd purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at about $135,728,000. Geode Capital Management LLC raised its holdings in shares of Bank of New York Mellon by 4.3% in the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after purchasing an additional 785,478 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Bank of New York Mellon during the second quarter valued at about $61,851,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Bank of New York Mellon by 36.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $127.57 on Tuesday. The firm has a market cap of $88.96 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $118.61 and its 200-day moving average is $110.57. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $128.00.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion during the quarter. Sell-side analysts predict 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Bank of New York Mellon’s payout ratio is 28.61%.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent analyst reports. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. New Street Research set a $143.00 price target on Bank of New York Mellon in a report on Wednesday, January 14th. Barclays boosted their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Citigroup raised their target price on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.