Stolper Co Has $6.26 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Stolper Co boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,535 shares of the bank’s stock after purchasing an additional 430 shares during the quarter. Bank of New York Mellon comprises approximately 2.1% of Stolper Co’s investment portfolio, making the stock its 20th largest holding. Stolper Co’s holdings in Bank of New York Mellon were worth $6,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. State Street Corp lifted its stake in shares of Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after buying an additional 659,096 shares in the last quarter. FMR LLC raised its holdings in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after acquiring an additional 8,512,404 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after acquiring an additional 421,161 shares in the last quarter. Legal & General Group Plc boosted its stake in Bank of New York Mellon by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after purchasing an additional 97,286 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bank of New York Mellon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after purchasing an additional 117,974 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the subject of several analyst reports. Citigroup increased their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Truist Financial began coverage on Bank of New York Mellon in a research note on Tuesday, January 7th. They set a “buy” rating and a $91.00 price objective on the stock. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company boosted their price target on shares of Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.57.

Bank of New York Mellon Stock Up 7.9 %

Bank of New York Mellon stock opened at $81.95 on Thursday. The firm has a 50 day moving average price of $78.58 and a 200-day moving average price of $71.94. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $82.72. The company has a market capitalization of $59.58 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.29%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.