Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 22,000 Shares of The Bank of New York Mellon Corporation $BK

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 21.9% during the third quarter, HoldingsChannel reports. The firm owned 122,627 shares of the bank’s stock after purchasing an additional 22,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Bank of New York Mellon were worth $13,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Westside Investment Management Inc. raised its position in Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares during the period. Hoey Investments Inc. purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $32,000. GFG Capital LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $36,000. Caldwell Trust Co bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $36,000. Finally, Princeton Global Asset Management LLC lifted its stake in Bank of New York Mellon by 89.0% in the second quarter. Princeton Global Asset Management LLC now owns 446 shares of the bank’s stock valued at $41,000 after purchasing an additional 210 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 2.1%

BK stock opened at $121.34 on Friday. The stock has a 50-day simple moving average of $115.07 and a two-hundred day simple moving average of $107.51. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $125.89. The firm has a market capitalization of $84.62 billion, a PE ratio of 16.38, a PEG ratio of 1.16 and a beta of 1.11. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81.

Bank of New York Mellon (NYSE:BK) last released 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%. On average, equities 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 Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on BK shares. The Goldman Sachs Group raised their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Barclays lifted their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI increased their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.00.

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.