Swiss Life Asset Management Ltd Has $21.43 Million Stake in The Bank of New York Mellon Corporation $BK

Swiss Life Asset Management Ltd boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 77.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 196,665 shares of the bank’s stock after buying an additional 86,076 shares during the period. Swiss Life Asset Management Ltd’s holdings in Bank of New York Mellon were worth $21,429,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at $33,000. Caldwell Trust Co bought a new stake in Bank of New York Mellon in the 2nd quarter valued at about $36,000. Westside Investment Management Inc. increased its stake in Bank of New York Mellon by 44.1% in the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock valued at $45,000 after acquiring an additional 127 shares during the last quarter. Dunhill Financial LLC lifted its stake in Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares during the last quarter. Finally, Community Bank N.A. increased its position in Bank of New York Mellon by 250.4% during the 3rd quarter. Community Bank N.A. now owns 438 shares of the bank’s stock worth $48,000 after purchasing an additional 313 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.2%

Shares of NYSE:BK opened at $114.90 on Friday. The firm has a market capitalization of $79.08 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76. The firm has a fifty day moving average of $119.21 and a 200 day moving average of $113.44.

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 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%. As a group, research analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is currently 28.61%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BK shares. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, March 11th. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Finally, Barclays raised their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.92.

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.