Lansforsakringar Fondforvaltning AB publ Increases Stock Position in The Bank of New York Mellon Corporation $BK

Lansforsakringar Fondforvaltning AB publ raised its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 3.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 225,457 shares of the bank’s stock after purchasing an additional 6,468 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Bank of New York Mellon were worth $24,566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BK. Siligmueller & Norvid Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $226,000. Personal CFO Solutions LLC lifted its stake in Bank of New York Mellon by 5.0% during the third quarter. Personal CFO Solutions LLC now owns 4,395 shares of the bank’s stock worth $479,000 after purchasing an additional 210 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Bank of New York Mellon by 5.6% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 9,400 shares of the bank’s stock worth $1,024,000 after purchasing an additional 500 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Bank of New York Mellon by 17.3% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 155,519 shares of the bank’s stock valued at $16,945,000 after purchasing an additional 22,890 shares during the last quarter. Finally, Kidder Stephen W bought a new position in shares of Bank of New York Mellon during the 3rd quarter valued at about $218,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.0%

NYSE:BK opened at $118.16 on Monday. The firm has a market capitalization of $82.40 billion, a P/E ratio of 15.95, a P/E/G ratio of 1.10 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 has a fifty day moving average of $119.33 and a 200 day moving average of $111.71. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $128.76.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, research 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BK. Wells Fargo & Company upped their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Finally, Citigroup upped their price target on shares of 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. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Company 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.