Lansforsakringar Fondforvaltning AB publ Raises Stock Holdings in The Bank of New York Mellon Corporation $BK

Lansforsakringar Fondforvaltning AB publ boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,457 shares of the bank’s stock after purchasing an additional 6,468 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Bank of New York Mellon were worth $24,566,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Westside Investment Management Inc. grew its position in Bank of New York Mellon by 78.9% during the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after buying an additional 127 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Bank of New York Mellon during the 3rd quarter valued at approximately $33,000. Caldwell Trust Co bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $36,000. Quaker Wealth Management LLC increased its stake in shares of Bank of New York Mellon by 198.9% during the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after purchasing an additional 905 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $52,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays increased their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Citigroup lifted 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. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, January 14th. Royal Bank Of Canada increased their target price 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 report on Wednesday, January 14th. Finally, Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Trading Up 0.0%

Shares of BK opened at $118.16 on Monday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76. The stock has a market cap of $82.40 billion, a PE ratio of 15.95, a P/E/G ratio of 1.10 and a beta of 1.10. 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 business’s 50-day moving average price is $119.33 and its 200-day moving average price is $111.71.

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. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The company had revenue of $5.07 billion during the quarter. On average, equities 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 28.61%.

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.