Blueshift Asset Management LLC Raises Stock Position in The Bank of New York Mellon Corporation $BK

Blueshift Asset Management LLC lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 231.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,757 shares of the bank’s stock after buying an additional 11,697 shares during the period. Blueshift Asset Management LLC’s holdings in Bank of New York Mellon were worth $1,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Canada Post Corp Registered Pension Plan purchased a new stake in Bank of New York Mellon during the first quarter worth about $1,035,000. Goldman Sachs Group Inc. grew its holdings in shares of Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Bank of New York Mellon by 150.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,654 shares of the bank’s stock worth $7,804,000 after buying an additional 51,457 shares during the period. Nuveen LLC acquired a new stake in Bank of New York Mellon during the 1st quarter worth approximately $773,627,000. Finally, LGT Group Foundation lifted its holdings in Bank of New York Mellon by 125.8% during the 1st quarter. LGT Group Foundation now owns 373,577 shares of the bank’s stock worth $31,332,000 after buying an additional 208,118 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. BMO Capital Markets started coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective on the stock. The Goldman Sachs Group increased their price target 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. Morgan Stanley lifted their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, October 17th. Finally, Barclays raised their target price on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Stock Performance

NYSE BK opened at $111.80 on Tuesday. The business’s 50-day moving average price is $108.27 and its 200 day moving average price is $101.11. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $113.74. The firm has a market cap of $77.97 billion, a P/E ratio of 16.13, a P/E/G ratio of 0.98 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The business 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%. On average, equities research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.9%. Bank of New York Mellon’s payout ratio is presently 30.59%.

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.