Swedbank AB Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Swedbank AB lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.1% in the third quarter, Holdings Channel reports. The fund owned 725,864 shares of the bank’s stock after purchasing an additional 28,384 shares during the quarter. Swedbank AB’s holdings in Bank of New York Mellon were worth $52,161,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP lifted its stake in Bank of New York Mellon by 99.4% in the second quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after purchasing an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Bank of New York Mellon by 6,040.9% during the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after buying an additional 1,020,906 shares during the period. M&G Plc purchased a new position in Bank of New York Mellon during the first quarter valued at approximately $55,543,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Bank of New York Mellon by 89.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock valued at $72,835,000 after buying an additional 574,319 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Bank of New York Mellon by 69.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank’s stock worth $80,529,000 after purchasing an additional 574,185 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the topic of several analyst reports. Barclays lifted their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday. Citigroup upped their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Finally, StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.69.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 0.4 %

BK stock opened at $76.24 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $77.67. The firm has a fifty day moving average price of $68.95 and a two-hundred day moving average price of $62.73. The firm has a market cap of $57.01 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.47%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 43.52%.

Bank of New York Mellon Company 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.