Murphy Pohlad Asset Management LLC Reduces Position in The Bank of New York Mellon Corporation $BK

Murphy Pohlad Asset Management LLC trimmed its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,545 shares of the bank’s stock after selling 400 shares during the quarter. Bank of New York Mellon makes up about 1.6% of Murphy Pohlad Asset Management LLC’s holdings, making the stock its 19th biggest position. Murphy Pohlad Asset Management LLC’s holdings in Bank of New York Mellon were worth $3,694,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BK. Nuveen LLC acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at $773,627,000. AustralianSuper Pty Ltd purchased a new stake in shares of Bank of New York Mellon during the first quarter worth approximately $92,502,000. Goldman Sachs Group Inc. raised its stake in shares of Bank of New York Mellon by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after purchasing an additional 1,052,145 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Bank of New York Mellon by 257.6% during the first quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock worth $103,685,000 after purchasing an additional 890,593 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Bank of New York Mellon by 37.7% during the first quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock worth $266,349,000 after purchasing an additional 887,361 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the subject of several analyst reports. Morgan Stanley upped their price target on Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Truist Financial upped their price target on 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. Wells Fargo & Company upped 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 report on Friday, October 17th. Citigroup upped their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Finally, Barclays boosted their target price on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Stock Up 0.7%

Bank of New York Mellon stock opened at $107.85 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a market capitalization of $76.06 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87. The stock’s fifty day moving average is $106.58 and its two-hundred day moving average is $96.50.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The company had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. Analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon’s payout ratio is presently 30.59%.

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.