Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in The Bank of New York Mellon Corporation (NYSE:BK)

Mirae Asset Global Investments Co. Ltd. increased its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 25.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,662 shares of the bank's stock after acquiring an additional 34,104 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Bank of New York Mellon were worth $14,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TrueMark Investments LLC purchased a new position in shares of Bank of New York Mellon in the first quarter valued at about $4,282,000. O Shaughnessy Asset Management LLC lifted its holdings in Bank of New York Mellon by 11.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock worth $60,426,000 after purchasing an additional 82,671 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Bank of New York Mellon by 29.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank's stock worth $18,740,000 after purchasing an additional 50,368 shares in the last quarter. Natixis Advisors LLC boosted its stake in Bank of New York Mellon by 6.5% in the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock worth $21,971,000 after purchasing an additional 17,457 shares during the period. Finally, Benson Investment Management Company Inc. purchased a new stake in Bank of New York Mellon during the 1st quarter valued at approximately $5,259,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $91.28 on Monday. The business's 50 day moving average price is $86.88 and its 200-day moving average price is $83.64. The Bank of New York Mellon Corporation has a fifty-two week low of $59.19 and a fifty-two week high of $92.64. The company has a market cap of $65.31 billion, a P/E ratio of 14.87, a P/E/G ratio of 1.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. Bank of New York Mellon's quarterly revenue was up 5.9% compared to the same quarter last year. Sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Analyst Ratings Changes

Several research firms have recently commented on BK. Citigroup boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Royal Bank Of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Evercore ISI boosted their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Finally, Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and raised their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.85.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. The trade was a 20.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,114 shares of company stock valued at $7,869,795 in the last ninety days. 0.14% of the stock is owned by company insiders.

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.

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