Russell Investments Group Ltd. Boosts Position in The Bank of New York Mellon Corporation $BK

Key Points

• Russell Investments Group Ltd. raised its position by 52.0% in The Bank of New York Mellon during Q3, buying 304,346 shares to hold 889,460 shares worth about $96.99 million (roughly a 0.13% stake).
• Analysts have grown more positive—TD Cowen and Barclays lifted targets to $145 and $143 with buy/overweight ratings, and the stock carries a consensus Moderate Buy rating with an average price target of $131.92 (8 Buys, 4 Holds).
• BNY Mellon has a $79.27B market cap and P/E of 15.54, reported $1.91 EPS last quarter, pays a $0.53 quarterly dividend (annualized $2.12, ~1.8% yield), and about 85.31% of the stock is held by institutional investors.

Russell Investments Group Ltd. raised its position in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 52.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 889,460 shares of the bank's stock after acquiring an additional 304,346 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.13% of Bank of New York Mellon worth $96,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BK. Ashton Thomas Private Wealth LLC increased its holdings in Bank of New York Mellon by 133.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 91,762 shares of the bank's stock valued at $9,998,000 after buying an additional 52,412 shares during the last quarter. Jones Financial Companies Lllp raised its position in Bank of New York Mellon by 35.1% in the third quarter. Jones Financial Companies Lllp now owns 31,848 shares of the bank's stock worth $3,487,000 after acquiring an additional 8,277 shares during the period. Investment Management Corp of Ontario boosted its stake in shares of Bank of New York Mellon by 25.9% during the 2nd quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank's stock worth $11,435,000 after acquiring an additional 25,842 shares during the last quarter. First National Advisers LLC purchased a new position in shares of Bank of New York Mellon during the 3rd quarter worth $3,304,000. Finally, First Horizon Corp bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at $22,072,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BK has been the subject of several analyst reports. TD Cowen upped their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, January 7th. Barclays lifted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the company an "overweight" rating in a research report on Monday, January 5th. Citigroup assumed coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They issued a "neutral" rating for the company. Weiss Ratings downgraded Bank of New York Mellon from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, February 13th. Finally, New Street Research set a $143.00 price objective on Bank of New York Mellon in a research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $131.92.

Bank of New York Mellon Trading Down 0.0%

Shares of BK opened at $115.18 on Tuesday. The firm has a market cap of $79.27 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76. The company has a 50 day simple moving average of $119.65 and a two-hundred day simple moving average of $112.92.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm had revenue of $5.07 billion for the quarter. On average, equities analysts expect 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon's payout ratio is currently 28.61%.

Bank of New York Mellon Company Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.

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