Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Holdings in The Bank of New York Mellon Corporation $BK

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 25.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,627 shares of the bank’s stock after buying an additional 20,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bank of New York Mellon were worth $9,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BK. Canada Post Corp Registered Pension Plan purchased a new position in Bank of New York Mellon during the 1st quarter worth $1,035,000. Formidable Asset Management LLC purchased a new position in Bank of New York Mellon during the 1st quarter worth $247,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Bank of New York Mellon by 121.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank’s stock worth $15,399,000 after purchasing an additional 100,810 shares during the period. Genus Capital Management Inc. bought a new stake in Bank of New York Mellon during the 1st quarter valued at $2,559,000. Finally, Goldman Sachs Group Inc. boosted its position in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after acquiring an additional 1,052,145 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 1.3%

Bank of New York Mellon stock opened at $107.00 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The stock has a market capitalization of $75.46 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.99 and a beta of 1.13. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $110.87. The business has a fifty day moving average price of $106.46 and a 200-day moving average price of $96.42.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Monday, October 27th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s payout ratio is currently 30.59%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BK shares. TD Cowen increased their target price on Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Morgan Stanley increased their target price on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. The Goldman Sachs Group increased their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 6th. BMO Capital Markets started coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.