AIA Group Ltd Boosts Holdings in The Bank of New York Mellon Corporation $BK

AIA Group Ltd grew its position in The Bank of New York Mellon Corporation (NYSE:BK) by 54.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,523 shares of the bank’s stock after acquiring an additional 10,038 shares during the quarter. AIA Group Ltd’s holdings in Bank of New York Mellon were worth $3,108,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC grew its stake in shares of Bank of New York Mellon by 1.3% during the third quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after buying an additional 94 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in shares of Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock worth $2,697,000 after acquiring an additional 96 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in shares of Bank of New York Mellon by 1.9% during the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after acquiring an additional 98 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in Bank of New York Mellon by 2.6% during the 3rd quarter. Angeles Wealth Management LLC now owns 3,798 shares of the bank’s stock valued at $414,000 after acquiring an additional 98 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Bank of New York Mellon by 13.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after acquiring an additional 100 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE BK opened at $114.90 on Friday. The company has a market cap of $79.08 billion, a PE ratio of 15.51, a P/E/G ratio of 1.07 and a beta of 1.10. The firm’s 50 day moving average price is $119.21 and its 200-day moving average price is $113.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BK shares. Morgan Stanley increased their target price 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. Royal Bank Of Canada boosted their target price on shares of 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. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Citigroup assumed coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, January 14th. One research 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 stock. According to MarketBeat, the stock 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.