New York Life Investment Management LLC Has $11.21 Million Stake in The Bank of New York Mellon Corporation $BK

New York Life Investment Management LLC lessened its position in The Bank of New York Mellon Corporation (NYSE:BK) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,916 shares of the bank’s stock after selling 4,174 shares during the period. New York Life Investment Management LLC’s holdings in Bank of New York Mellon were worth $11,214,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $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 increased its position in Bank of New York Mellon by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock valued at $1,717,074,000 after acquiring an additional 785,478 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $61,851,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Bank of New York Mellon by 36.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock valued at $236,013,000 after acquiring an additional 577,621 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $127.57 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.00. The company has a fifty day moving average of $118.61 and a 200-day moving average of $110.57. The firm has a market capitalization of $88.96 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.16 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last issued 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 company had revenue of $5.07 billion during the quarter. As a group, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm 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. The ex-dividend date was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.7%. Bank of New York Mellon’s dividend payout ratio is presently 28.61%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of 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. Wells Fargo & Company upped their price target 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. Citigroup raised their price objective on Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Morgan Stanley upped their target price on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their target price for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target 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.