Strs Ohio Takes $45.89 Million Position in The Bank of New York Mellon Corporation $BK

Key Points

• Strs Ohio acquired a new stake in The Bank of New York Mellon Corporation, purchasing 547,130 shares valued at approximately $45.89 million, representing about 0.08% of the company's stock.
• Several institutional investors, including Nuveen LLC and Goldman Sachs Group Inc., have significantly increased their stakes in Bank of New York Mellon during the 1st quarter.
• Bank of New York Mellon recently declared a quarterly dividend of $0.53 per share, reflecting an increase from the previous dividend of $0.47, with a current annual dividend yield of 2.0%.

Strs Ohio acquired a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 547,130 shares of the bank's stock, valued at approximately $45,888,000. Strs Ohio owned approximately 0.08% of Bank of New York Mellon as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 1.9% during the first quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank's stock worth $1,010,093,000 after purchasing an additional 221,613 shares during the last quarter. Nuveen LLC acquired a new position in Bank of New York Mellon in the 1st quarter valued at approximately $773,627,000. Invesco Ltd. increased its position in Bank of New York Mellon by 8.8% in the 1st quarter. Invesco Ltd. now owns 8,264,176 shares of the bank's stock valued at $693,116,000 after acquiring an additional 667,966 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Bank of New York Mellon by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,125,577 shares of the bank's stock worth $681,492,000 after purchasing an additional 436,100 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Bank of New York Mellon by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,689,477 shares of the bank's stock worth $590,783,000 after purchasing an additional 1,055,389 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

BK stock traded up $1.03 during trading on Wednesday, reaching $106.52. The stock had a trading volume of 660,055 shares, compared to its average volume of 4,059,055. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The firm has a market cap of $75.12 billion, a PE ratio of 16.26, a PEG ratio of 1.00 and a beta of 1.14. The stock's 50 day moving average is $101.67 and its two-hundred day moving average is $90.76. The Bank of New York Mellon Corporation has a 52 week low of $70.36 and a 52 week high of $107.01.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.51 EPS. As a group, equities analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, July 25th. Bank of New York Mellon's dividend payout ratio is currently 32.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BK shares. Citigroup raised their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Truist Financial lifted their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a "hold" rating in a research note on Thursday, August 14th. Evercore ISI upped their price objective on shares of 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 increased their price objective 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. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.62.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 35,115 shares of the company's stock, valued at $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

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.