The Bank of New York Mellon Corporation $BK Stake Boosted by Brevan Howard Capital Management LP

Key Points

• Brevan Howard Capital Management boosted its stake in The Bank of New York Mellon by 73.8% in Q3, buying an extra 29,902 shares to hold 70,439 shares worth about $7.68 million.
• Several large institutions also upped positions—Vanguard holds ~71.1 million shares, Ameriprise added ~2.03 million shares, and UBS AM increased its stake by 639.5%—with institutional investors owning about 85.31% of the stock.
• Analyst sentiment is generally positive: MarketBeat shows a consensus rating of "Moderate Buy" with a consensus target price of $131.92, and multiple firms (including Truist and Keefe, Bruyette & Woods) recently raised ratings or targets.

Brevan Howard Capital Management LP boosted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 73.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,439 shares of the bank's stock after buying an additional 29,902 shares during the period. Brevan Howard Capital Management LP's holdings in Bank of New York Mellon were worth $7,675,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BK. Vanguard Group Inc. increased its position in shares of Bank of New York Mellon by 0.7% in the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank's stock worth $6,477,206,000 after acquiring an additional 517,081 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Bank of New York Mellon by 0.9% in the 2nd quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank's stock valued at $1,439,831,000 after acquiring an additional 139,544 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Bank of New York Mellon by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank's stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares in the last quarter. Norges Bank acquired a new position in Bank of New York Mellon in the 2nd quarter worth approximately $1,081,847,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bank of New York Mellon by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock worth $771,080,000 after purchasing an additional 6,119,749 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 14th. Citigroup began 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 upgraded Bank of New York Mellon from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $132.00 to $143.00 and gave the company an "outperform" rating in a research report on Wednesday, January 14th. Finally, Truist Financial raised Bank of New York Mellon from a "hold" rating to a "buy" rating and increased their price objective for the stock from $119.00 to $134.00 in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $131.92.

Bank of New York Mellon Trading Down 0.8%

NYSE BK opened at $116.18 on Friday. 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 current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $79.96 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. The firm's fifty day simple moving average is $119.65 and its 200-day simple moving average is $113.22.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion during the quarter. As a group, sell-side analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend 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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