Natixis Advisors LLC Increases Stake in The Bank of New York Mellon Corporation (NYSE:BK)

Key Points

• Natixis Advisors LLC increased its stake in The Bank of New York Mellon by 17.1%, holding 334,905 shares valued at over $28 million.
• Recent analyst reports have led to increased price targets for Bank of New York Mellon, with several firms now forecasting a price range between $90.00 and $113.00.
• The bank announced a new quarterly dividend of $0.53 per share, representing a boost from its previous dividend and a yield of 2.1%.

Natixis Advisors LLC grew its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 334,905 shares of the bank's stock after acquiring an additional 48,940 shares during the period. Natixis Advisors LLC's holdings in Bank of New York Mellon were worth $28,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BK. FMR LLC boosted its holdings in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after buying an additional 3,732,862 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Bank of New York Mellon by 0.3% in the 4th quarter. Ameriprise Financial Inc. now owns 11,821,988 shares of the bank's stock valued at $908,281,000 after purchasing an additional 35,413 shares in the last quarter. Northern Trust Corp boosted its position 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 worth $732,468,000 after acquiring an additional 1,526,686 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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. Finally, Invesco Ltd. increased its stake in shares of Bank of New York Mellon by 2.4% during the 4th quarter. Invesco Ltd. now owns 7,596,210 shares of the bank's stock valued at $583,617,000 after acquiring an additional 175,704 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial lifted 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. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their target price on 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. Evercore ISI raised their price target 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. Finally, Morgan Stanley upped their price objective on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $94.38.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $99.78 on Friday. The stock has a market capitalization of $71.39 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.99 and a beta of 1.12. The Bank of New York Mellon Corporation has a 1-year low of $60.93 and a 1-year high of $103.16. The company has a current ratio of 0.72, a quick ratio of 0.69 and a debt-to-equity ratio of 0.86. The firm has a fifty day simple moving average of $93.13 and a 200-day simple moving average of $86.84.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the business posted $1.51 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be given a dividend of $0.53 per share. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date is Friday, July 25th. This represents a $2.12 annualized dividend and a dividend yield of 2.1%. Bank of New York Mellon's dividend payout ratio is 32.37%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total value of $1,969,000.00. Following the sale, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon 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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