E. Ohman J or Asset Management AB Sells 5,736 Shares of The Bank of New York Mellon Corporation $BK

E. Ohman J or Asset Management AB decreased its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 19.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,267 shares of the bank’s stock after selling 5,736 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Bank of New York Mellon were worth $2,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors 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 during the 2nd quarter worth about $1,081,847,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after acquiring an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Bank of New York Mellon by 18.0% in the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after purchasing an additional 2,034,781 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Bank of New York Mellon in the second quarter worth $135,728,000. Finally, AQR Capital Management LLC raised its holdings in Bank of New York Mellon by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock worth $438,418,000 after purchasing an additional 906,218 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $117.76 on Wednesday. The firm has a market cap of $81.04 billion, a PE ratio of 15.89, a PEG ratio of 1.09 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $128.76. The company has a fifty day moving average price of $118.94 and a 200 day moving average price of $113.80.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, January 13th. The bank reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.11. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.11 billion. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.72 EPS. Research analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a dividend of $0.53 per share. The ex-dividend date was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BK. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. Morgan Stanley raised their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 target price on Bank of New York Mellon in a research note on Wednesday, January 14th. Royal Bank Of Canada raised their price target on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Company 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.