Mirae Asset Global Investments Co. Ltd. Purchases 13,906 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Mirae Asset Global Investments Co. Ltd. grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,558 shares of the bank’s stock after purchasing an additional 13,906 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Bank of New York Mellon were worth $10,480,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its stake in shares of Bank of New York Mellon by 78.6% in the third 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. Wellington Management Group LLP grew its stake in shares of Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after acquiring an additional 3,142,869 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of Bank of New York Mellon in the third quarter worth $62,589,000. State Street Corp grew 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 worth $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Bank of New York Mellon by 248.3% in the third quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock worth $61,715,000 after acquiring an additional 612,287 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $86.35 on Friday. The stock has a 50-day simple moving average of $80.52 and a 200 day simple moving average of $74.43. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $87.70. The stock has a market capitalization of $62.78 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $1.28 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BK shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Truist Financial lifted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Profile

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.