Generali Asset Management SPA SGR Takes $7.55 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Generali Asset Management SPA SGR purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 98,206 shares of the bank’s stock, valued at approximately $7,545,000.

A number of other institutional investors also recently modified their holdings of BK. Centricity Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $39,000. TCTC Holdings LLC grew its stake in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after acquiring an additional 430 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $49,000. Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $56,000. Finally, Asset Dedication LLC grew its stake in shares of Bank of New York Mellon by 342.1% in the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 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 $82.62 on Wednesday. The stock has a 50-day simple moving average of $84.48 and a 200 day simple moving average of $78.76. 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 $90.34. The stock has a market capitalization of $59.32 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 0.97 and a beta of 1.06.

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 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.28%. Bank of New York Mellon’s dividend payout ratio is 32.36%.

Wall Street Analyst Weigh In

BK has been the topic of several research analyst reports. UBS Group raised their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Citigroup lifted their price target on shares of 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. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” 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 $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

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.