Ameriprise Financial Inc. Has $1.45 Billion Stock Position in The Bank of New York Mellon Corporation $BK

Ameriprise Financial Inc. raised its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 18.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,345,266 shares of the bank’s stock after buying an additional 2,034,781 shares during the quarter. Ameriprise Financial Inc. owned 1.91% of Bank of New York Mellon worth $1,454,116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Valley Wealth Managers Inc. bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at $33,000. Caldwell Trust Co bought a new position in Bank of New York Mellon during the second quarter worth $36,000. Westside Investment Management Inc. boosted its stake in Bank of New York Mellon by 44.1% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after acquiring an additional 127 shares in the last quarter. Dunhill Financial LLC boosted its stake in Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Bank of New York Mellon in the second quarter worth $52,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

BK opened at $116.18 on Friday. 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 market cap of $79.96 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 1.08 and a beta of 1.10. The company’s fifty day moving average price is $119.65 and its two-hundred day moving average price is $113.22. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 EPS 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 during the quarter. On average, analysts expect 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BK. TD Cowen lifted their price target on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday. Citigroup initiated coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Finally, Barclays upped their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.