Canada Post Corp Registered Pension Plan Acquires 7,950 Shares of The Bank of New York Mellon Corporation $BK

Canada Post Corp Registered Pension Plan grew its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 75.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,547 shares of the bank’s stock after acquiring an additional 7,950 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Bank of New York Mellon were worth $2,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BK. Norges Bank bought a new position in shares of Bank of New York Mellon in the second quarter worth about $1,081,847,000. Qube Research & Technologies Ltd bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $135,728,000. Geode Capital Management LLC lifted its holdings in Bank of New York Mellon by 4.3% during the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after purchasing an additional 785,478 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Bank of New York Mellon in the second quarter worth approximately $61,851,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Bank of New York Mellon by 36.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

NYSE BK opened at $124.42 on Friday. 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 1-year low of $70.46 and a 1-year high of $125.89. The business has a 50 day simple moving average of $118.30 and a two-hundred day simple moving average of $110.30. The stock has a market capitalization of $86.76 billion, a PE ratio of 16.79, a P/E/G ratio of 1.16 and a beta of 1.10.

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 return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion during 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Royal Bank Of Canada upped their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. TD Cowen lifted their target price on 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. New Street Research set a $143.00 price target on Bank of New York Mellon in a research note on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price 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.