AustralianSuper Pty Ltd Sells 326,927 Shares of The Bank of New York Mellon Corporation $BK

AustralianSuper Pty Ltd decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 50.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 317,801 shares of the bank’s stock after selling 326,927 shares during the period. AustralianSuper Pty Ltd’s holdings in Bank of New York Mellon were worth $34,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its holdings in Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after buying an additional 127 shares in the last quarter. GFG Capital LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth $36,000. Caldwell Trust Co purchased a new position in Bank of New York Mellon during the second quarter valued at $36,000. Princeton Global Asset Management LLC increased its holdings in Bank of New York Mellon by 89.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock valued at $41,000 after acquiring an additional 210 shares during the last quarter. Finally, Quaker Wealth Management LLC lifted its stake in Bank of New York Mellon by 198.9% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after purchasing an additional 905 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.0%

Shares of BK opened at $118.87 on Thursday. 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 business has a fifty day moving average of $116.63 and a 200 day moving average of $109.13. The company has a market cap of $82.89 billion, a PE ratio of 16.04, a P/E/G ratio of 1.11 and a beta of 1.11. 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 announced its 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 business had revenue of $5.07 billion for the quarter. On average, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Wall Street Analysts Forecast Growth

BK has been the topic of several research reports. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. BMO Capital Markets assumed 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. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Barclays raised their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

About Bank of New York Mellon

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.