Norinchukin Bank The Has $3.17 Million Holdings in The Bank of New York Mellon Corporation $BK

Key Points

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Norinchukin Bank The boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 14.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,829 shares of the bank's stock after buying an additional 4,749 shares during the quarter. Norinchukin Bank The's holdings in Bank of New York Mellon were worth $3,173,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BK. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at about $220,000. OneDigital Investment Advisors LLC boosted its stake in shares of Bank of New York Mellon by 1.7% during the fourth quarter. OneDigital Investment Advisors LLC now owns 25,376 shares of the bank's stock valued at $1,950,000 after purchasing an additional 435 shares in the last quarter. Syon Capital LLC boosted its stake in shares of Bank of New York Mellon by 2.5% during the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after purchasing an additional 132 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Bank of New York Mellon by 14.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 42,975 shares of the bank's stock valued at $3,302,000 after purchasing an additional 5,509 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Bank of New York Mellon by 4.8% during the fourth quarter. Voya Investment Management LLC now owns 1,486,961 shares of the bank's stock valued at $114,243,000 after purchasing an additional 68,653 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In related 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of recent research reports. Morgan Stanley lifted their price target 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. Wells Fargo & Company lifted 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. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Evercore ISI lifted their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Finally, Truist Financial lifted their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $95.08.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $101.7220 on Friday. 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 Bank of New York Mellon Corporation has a twelve month low of $65.24 and a twelve month high of $104.47. The stock's 50 day moving average is $96.69 and its 200-day moving average is $88.50. The firm has a market capitalization of $71.74 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.96 and a beta of 1.12.

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, 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 company 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 firm earned $1.51 earnings per share. Bank of New York Mellon's revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.1%. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. 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.

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