Mutual of America Capital Management LLC Has $7 Million Stock Holdings in The Bank of New York Mellon Corporation (NYSE:BK)

Key Points

• Mutual of America Capital Management LLC reduced its holdings in The Bank of New York Mellon by 4.2%, now owning shares valued at approximately $7 million.
• Other institutional investors significantly increased their stakes in the bank, with Northern Trust Corp boosting its position by 19.1% and GAMMA Investing LLC increasing its stake by a remarkable 9,538.9%.
• The Bank of New York Mellon recently increased its quarterly dividend to $0.53 per share, reflecting a positive change from the previous amount of $0.47.

Mutual of America Capital Management LLC lessened its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 83,463 shares of the bank's stock after selling 3,640 shares during the period. Mutual of America Capital Management LLC's holdings in Bank of New York Mellon were worth $7,000,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Northern Trust Corp increased its stake in Bank of New York Mellon by 19.1% during the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank's stock valued at $732,468,000 after acquiring an additional 1,526,686 shares during the period. GAMMA Investing LLC increased its stake in Bank of New York Mellon by 9,538.9% during the first quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock valued at $117,414,000 after acquiring an additional 1,385,434 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Bank of New York Mellon by 15.9% during 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 acquiring an additional 1,055,389 shares during the period. Man Group plc increased its stake in Bank of New York Mellon by 155.7% during the fourth quarter. Man Group plc now owns 1,583,912 shares of the bank's stock valued at $121,692,000 after acquiring an additional 964,428 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Bank of New York Mellon during the fourth quarter valued at about $61,945,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the transaction, the executive vice president owned 35,115 shares of the company's stock, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Down 0.1%

NYSE BK opened at $102.22 on Friday. The firm has a market cap of $72.09 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.99 and a beta of 1.12. The Bank of New York Mellon Corporation has a one year low of $61.88 and a one year high of $103.41. The stock's 50 day simple moving average is $94.12 and its 200 day simple moving average is $87.36. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the company earned $1.51 EPS. Bank of New York Mellon's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share 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. Shareholders of record on Friday, July 25th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $2.12 annualized dividend and a yield of 2.1%. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's dividend payout ratio (DPR) is currently 32.37%.

Analysts Set New Price Targets

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

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.

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