AMF Tjanstepension AB Trims Stock Position in The Bank of New York Mellon Corporation $BK

AMF Tjanstepension AB cut its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 12.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 178,640 shares of the bank’s stock after selling 24,654 shares during the period. AMF Tjanstepension AB’s holdings in Bank of New York Mellon were worth $19,465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BK. CIBC Asset Management Inc lifted its stake in shares of Bank of New York Mellon by 0.5% in the 3rd quarter. CIBC Asset Management Inc now owns 118,375 shares of the bank’s stock valued at $12,898,000 after purchasing an additional 634 shares during the last quarter. FSB Premier Wealth Management Inc. increased its position in shares of Bank of New York Mellon by 8.0% during the 3rd quarter. FSB Premier Wealth Management Inc. now owns 18,046 shares of the bank’s stock worth $1,966,000 after purchasing an additional 1,333 shares during the last quarter. Sagespring Wealth Partners LLC raised its holdings in Bank of New York Mellon by 4.8% in the 3rd quarter. Sagespring Wealth Partners LLC now owns 8,445 shares of the bank’s stock valued at $920,000 after buying an additional 383 shares during the period. Mn Services Vermogensbeheer B.V. lifted its position in Bank of New York Mellon by 1.2% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 271,516 shares of the bank’s stock valued at $29,584,000 after buying an additional 3,200 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in Bank of New York Mellon by 12.6% during the third quarter. UniSuper Management Pty Ltd now owns 60,750 shares of the bank’s stock worth $6,619,000 after buying an additional 6,814 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $117.71 on Friday. The firm has a 50 day moving average of $115.93 and a two-hundred day moving average of $108.59. The stock has a market capitalization of $82.09 billion, a PE ratio of 15.89, a P/E/G ratio of 1.10 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $125.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The business had revenue of $5.07 billion for the quarter. On average, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Friday, January 23rd will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s payout ratio is presently 28.61%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BK shares. The Goldman Sachs Group lifted their price target on shares of 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. Barclays increased their price objective on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Evercore ISI boosted their target price on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lifted their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently 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.