Vanguard Group Inc. Has $7.70 Billion Stock Holdings in The Bank of New York Mellon Corporation $BK

Vanguard Group Inc. trimmed its position in The Bank of New York Mellon Corporation (NYSE:BK) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,672,037 shares of the bank’s stock after selling 420,111 shares during the quarter. Vanguard Group Inc. owned approximately 10.13% of Bank of New York Mellon worth $7,700,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $220,000. Sivia Capital Partners LLC lifted its holdings in Bank of New York Mellon by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares during the last quarter. Ignite Planners LLC bought a new position in Bank of New York Mellon during the second quarter worth $240,000. Harbour Investments Inc. increased its holdings in shares of Bank of New York Mellon by 8.9% in the second quarter. Harbour Investments Inc. now owns 1,771 shares of the bank’s stock valued at $161,000 after purchasing an additional 144 shares during the last quarter. Finally, Mutual Advisors LLC raised its position in shares of Bank of New York Mellon by 15.5% in the second quarter. Mutual Advisors LLC now owns 5,658 shares of the bank’s stock valued at $571,000 after purchasing an additional 758 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on BK shares. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Citigroup boosted their price objective on Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. 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. Truist Financial upgraded 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 research note on Wednesday, January 7th. Finally, New Street Research set a $143.00 price objective on Bank of New York Mellon in a research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $117.67 on Tuesday. The stock’s fifty day moving average price is $119.23 and its two-hundred day moving average price is $111.21. The firm has a market cap of $82.05 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, research 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 company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders 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 dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is 28.61%.

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.