Artisan Partners Limited Partnership Has $1.67 Billion Stock Position in The Bank of New York Mellon Corporation $BK

Artisan Partners Limited Partnership decreased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,336,335 shares of the bank’s stock after selling 466,879 shares during the quarter. Bank of New York Mellon accounts for approximately 2.4% of Artisan Partners Limited Partnership’s holdings, making the stock its 4th biggest position. Artisan Partners Limited Partnership’s holdings in Bank of New York Mellon were worth $1,671,047,000 as of its most recent SEC filing.

Other institutional 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% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after purchasing an additional 127 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Bank of New York Mellon in the third quarter worth approximately $33,000. Caldwell Trust Co bought a new stake in Bank of New York Mellon during the second quarter valued at about $36,000. Quaker Wealth Management LLC boosted its stake in Bank of New York Mellon by 198.9% in 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 period. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Bank of New York Mellon during the second quarter valued at $52,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of research reports. Barclays increased their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Citigroup initiated coverage on shares of Bank of New York Mellon in a research note on Monday. They issued a “neutral” rating on the stock. TD Cowen raised their price target 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. Wells Fargo & Company raised their price objective 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. Finally, Morgan Stanley raised their price objective on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Stock Up 1.0%

BK opened at $121.50 on Friday. The stock has a market capitalization of $84.73 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.12 and a beta of 1.10. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The company has a fifty day moving average of $119.62 and a two-hundred day moving average of $112.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. The firm 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%. On average, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given 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 was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio is 28.61%.

Bank of New York Mellon 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.