The Bank of New York Mellon Corporation $BK Shares Bought by Nilsine Partners LLC

Nilsine Partners LLC increased its position in The Bank of New York Mellon Corporation (NYSE:BK) by 50.8% during the third quarter, HoldingsChannel.com reports. The fund owned 23,768 shares of the bank’s stock after acquiring an additional 8,006 shares during the quarter. Nilsine Partners LLC’s holdings in Bank of New York Mellon were worth $2,590,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BK. Norges Bank acquired a new position in shares of Bank of New York Mellon in the second quarter worth $1,081,847,000. Qube Research & Technologies Ltd purchased a new stake in Bank of New York Mellon during the second quarter valued at about $135,728,000. Goldman Sachs Group Inc. grew its holdings in shares of 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 worth $423,858,000 after purchasing an additional 1,052,145 shares during the period. Wellington Management Group LLP increased its position in shares of Bank of New York Mellon by 257.6% in the first quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock worth $103,685,000 after acquiring an additional 890,593 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Bank of New York Mellon by 37.7% in the 1st quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after purchasing an additional 887,361 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BK shares. Citigroup lifted their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Barclays increased their price target on 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. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of New York Mellon in a research note on Monday, December 8th. Finally, Truist Financial increased 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. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $116.99 on Tuesday. The business’s 50-day moving average price is $109.75 and its two-hundred day moving average price is $102.94. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $119.40. The company has a market capitalization of $81.59 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.12. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. The company 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%. Analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were paid 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 yield of 1.8%. 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.