The Bank of New York Mellon Corporation $BK Shares Purchased by Cresset Asset Management LLC

Cresset Asset Management LLC boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 42.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,384 shares of the bank’s stock after purchasing an additional 8,722 shares during the quarter. Cresset Asset Management LLC’s holdings in Bank of New York Mellon were worth $2,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Canada Post Corp Registered Pension Plan bought a new position in shares of Bank of New York Mellon during the first quarter worth about $1,035,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 last quarter. LGT Group Foundation grew its position in shares of Bank of New York Mellon by 125.8% in the 1st quarter. LGT Group Foundation now owns 373,577 shares of the bank’s stock worth $31,332,000 after acquiring an additional 208,118 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Bank of New York Mellon by 127.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 620,715 shares of the bank’s stock valued at $56,553,000 after acquiring an additional 348,162 shares during the last quarter. Finally, OMNI 360 Wealth Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $230,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $114.27 on Tuesday. The firm’s 50 day moving average is $108.72 and its two-hundred day moving average is $101.95. The firm has a market capitalization of $79.68 billion, a P/E ratio of 16.49, a PEG ratio of 1.03 and a beta of 1.12. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $114.99.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The business had revenue of $4.38 billion during the quarter. Analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders 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 annualized dividend and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

Analyst Ratings Changes

Several research firms have weighed in on BK. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price for the company. Citigroup lifted their price target on shares of 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. TD Cowen boosted their price objective on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Morgan Stanley increased their price objective on shares of 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. Finally, The Goldman Sachs Group lifted their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon 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.