Brevan Howard Capital Management LP Has $7.68 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Brevan Howard Capital Management LP grew its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 73.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,439 shares of the bank’s stock after acquiring an additional 29,902 shares during the period. Brevan Howard Capital Management LP’s holdings in Bank of New York Mellon were worth $7,675,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BK. Revolve Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at $220,000. Sivia Capital Partners LLC boosted its holdings in Bank of New York Mellon by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after purchasing an additional 909 shares in the last quarter. Prospera Financial Services Inc increased its position in Bank of New York Mellon by 12.5% during the second quarter. Prospera Financial Services Inc now owns 6,603 shares of the bank’s stock worth $602,000 after buying an additional 736 shares during the last quarter. Clearstead Trust LLC increased its position in Bank of New York Mellon by 22.5% during the second quarter. Clearstead Trust LLC now owns 709 shares of the bank’s stock worth $65,000 after buying an additional 130 shares during the last quarter. Finally, Advisors Capital Management LLC raised its holdings in Bank of New York Mellon by 2.3% during the second quarter. Advisors Capital Management LLC now owns 5,523 shares of the bank’s stock valued at $503,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $116.18 on Friday. The company has a market cap of $79.96 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.08 and a beta of 1.10. The business has a 50 day moving average price of $119.65 and a 200 day moving average price of $113.22. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. 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 business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. 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 28.61%.

Analysts Set New Price Targets

BK has been the subject of several recent analyst reports. Royal Bank Of Canada upped their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Barclays boosted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Weiss Ratings raised Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Citigroup started coverage on shares of Bank of New York Mellon in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, 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 research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.