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

Swiss Life Asset Management Ltd boosted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 77.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 196,665 shares of the bank’s stock after purchasing an additional 86,076 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Bank of New York Mellon were worth $21,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth $33,000. Caldwell Trust Co acquired a new position in Bank of New York Mellon during the second quarter worth about $36,000. Westside Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 127 shares in the last quarter. Dunhill Financial LLC grew its position in shares of Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after purchasing an additional 242 shares during the last quarter. Finally, Community Bank N.A. increased its stake in shares of 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. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price target 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. Truist Financial raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the company from $119.00 to $134.00 in a research note on Wednesday, January 7th. TD Cowen upped their target price on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Up 0.2%

Shares of BK stock opened at $114.90 on Friday. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76. 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 stock has a 50 day moving average of $119.21 and a 200-day moving average of $113.44. The firm has a market cap 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.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion during the quarter. On average, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Bank of New York Mellon Company 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.