Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 22,000 Shares of The Bank of New York Mellon Corporation $BK

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 21.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,627 shares of the bank’s stock after purchasing an additional 22,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bank of New York Mellon were worth $13,361,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Revolve Wealth Partners LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $220,000. MassMutual Private Wealth & Trust FSB grew its stake in Bank of New York Mellon by 11.7% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 3,235 shares of the bank’s stock valued at $295,000 after acquiring an additional 338 shares during the period. Harbor Capital Advisors Inc. grew its stake in Bank of New York Mellon by 525.4% in the second quarter. Harbor Capital Advisors Inc. now owns 888 shares of the bank’s stock valued at $81,000 after acquiring an additional 746 shares during the period. Pallas Capital Advisors LLC increased its holdings in shares of Bank of New York Mellon by 37.5% during the second quarter. Pallas Capital Advisors LLC now owns 11,165 shares of the bank’s stock valued at $1,017,000 after acquiring an additional 3,045 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Bank of New York Mellon by 11.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 23,419 shares of the bank’s stock worth $2,134,000 after purchasing an additional 2,378 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BK. BMO Capital Markets assumed coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the stock from $119.00 to $134.00 in a research report on Wednesday, January 7th. Finally, The Goldman Sachs Group upped their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Bank of New York Mellon Price Performance

BK opened at $121.34 on Friday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $125.89. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The company has a market capitalization of $84.62 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.16 and a beta of 1.11. The firm’s fifty day moving average price is $115.07 and its two-hundred day moving average price is $107.51.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion for the quarter. As a group, 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Bank of New York Mellon 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.