MUFG Securities EMEA plc Has $1.43 Million Position in The Bank of New York Mellon Corporation (NYSE:BK)

Key Points

• MUFG Securities EMEA plc significantly reduced its stake in The Bank of New York Mellon Corp by 86.9%, lowering its holdings to $1.43 million after selling 113,001 shares in the first quarter.
• Several large investors have increased their stakes, including Northern Trust Corp by 19.1% and Goldman Sachs Group by 26.3%, reflecting strong institutional interest with 85.31% of shares held by institutions.
• The Bank of New York Mellon recently announced a quarterly dividend increase from $0.47 to $0.53, representing a 2.1% yield with a payout ratio of 32.37%.

MUFG Securities EMEA plc lowered its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 86.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,999 shares of the bank's stock after selling 113,001 shares during the period. MUFG Securities EMEA plc's holdings in Bank of New York Mellon were worth $1,426,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 0.3% during the fourth quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock worth $908,281,000 after buying an additional 35,413 shares in the last quarter. Northern Trust Corp grew its holdings in Bank of New York Mellon by 19.1% in the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after purchasing an additional 1,526,686 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Bank of New York Mellon by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,689,477 shares of the bank's stock valued at $590,783,000 after purchasing an additional 1,055,389 shares during the period. Goldman Sachs Group Inc. lifted its position in Bank of New York Mellon by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank's stock valued at $423,858,000 after buying an additional 1,052,145 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Bank of New York Mellon by 13.2% during the fourth quarter. Royal Bank of Canada now owns 4,315,954 shares of the bank's stock valued at $331,595,000 after buying an additional 502,502 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BK shares. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial boosted their target price on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley upped their price target on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.38.

Bank of New York Mellon Stock Down 1.4%

Shares of BK traded down $1.41 during trading hours on Wednesday, reaching $102.20. The company's stock had a trading volume of 2,460,650 shares, compared to its average volume of 4,238,667. The firm has a market cap of $72.07 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 1.00 and a beta of 1.12. The Bank of New York Mellon Corporation has a 1-year low of $63.50 and a 1-year high of $104.47. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a 50 day moving average of $94.98 and a two-hundred day moving average of $87.76.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.21. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.51 EPS. As a group, research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a $0.53 dividend. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, July 25th. Bank of New York Mellon's dividend payout ratio is currently 32.37%.

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.