The Bank of New York Mellon Corporation $BK Stock Holdings Lowered by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR cut its position in The Bank of New York Mellon Corporation (NYSE:BK) by 24.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,377 shares of the bank’s stock after selling 12,618 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Bank of New York Mellon were worth $4,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Bank of New York Mellon during the first quarter valued at $1,035,000. Investment Management Corp of Ontario lifted its stake in Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after buying an additional 25,842 shares in the last quarter. Permanent Capital Management LP acquired a new position in shares of Bank of New York Mellon in the third quarter worth about $2,262,000. Highland Capital Management LLC purchased a new position in shares of Bank of New York Mellon in the third quarter worth approximately $1,639,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Bank of New York Mellon by 150.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,654 shares of the bank’s stock valued at $7,804,000 after acquiring an additional 51,457 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Morgan Stanley increased their target price on Bank of New York Mellon from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. BMO Capital Markets began coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price for the company. Weiss Ratings reissued a “buy (b+)” rating on shares of Bank of New York Mellon in a research report on Monday. Finally, Wells Fargo & Company raised their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $111.86.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $117.00 on Friday. The firm’s 50 day simple moving average is $112.41 and its 200 day simple moving average is $105.38. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $119.40. The firm has a market capitalization of $81.59 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.95 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The firm had revenue of $5.07 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, analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

About Bank of New York Mellon

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.