Assenagon Asset Management S.A. Has $5.05 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Assenagon Asset Management S.A. increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,392 shares of the bank’s stock after acquiring an additional 1,503 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Bank of New York Mellon were worth $5,047,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BK. Revolve Wealth Partners LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at $220,000. Mackenzie Financial Corp lifted its stake in shares of Bank of New York Mellon by 11.8% during the fourth quarter. Mackenzie Financial Corp now owns 100,179 shares of the bank’s stock valued at $7,697,000 after acquiring an additional 10,590 shares during the period. Integrated Advisors Network LLC increased its holdings in Bank of New York Mellon by 7.9% in the fourth quarter. Integrated Advisors Network LLC now owns 3,881 shares of the bank’s stock valued at $298,000 after purchasing an additional 283 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at about $158,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Bank of New York Mellon by 93.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 173,070 shares of the bank’s stock valued at $13,297,000 after purchasing an additional 83,649 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.4%

NYSE BK opened at $108.19 on Thursday. The firm has a market cap of $76.30 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50-day moving average is $103.35 and its 200-day moving average is $91.65. The Bank of New York Mellon Corporation has a one year low of $70.41 and a one year high of $110.87.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.Bank of New York Mellon’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $1.51 earnings per share. Sell-side 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a dividend of $0.53 per share. The ex-dividend date was Friday, July 25th. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is 32.37%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BK shares. Citigroup upped their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Truist Financial upped their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a report on Thursday, August 14th. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley upped their price objective on Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.62.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

About Bank of New York Mellon

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.