Amundi Raises Stake in The Bank of New York Mellon Co. (NYSE:BK)

Amundi grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,363,015 shares of the bank’s stock after acquiring an additional 359,942 shares during the period. Amundi owned about 1.01% of Bank of New York Mellon worth $573,947,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in shares of Bank of New York Mellon by 21.9% during the third quarter. Farther Finance Advisors LLC now owns 4,846 shares of the bank’s stock valued at $348,000 after acquiring an additional 872 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Bank of New York Mellon by 14.4% during the third quarter. Janney Montgomery Scott LLC now owns 127,748 shares of the bank’s stock valued at $9,180,000 after acquiring an additional 16,041 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after acquiring an additional 137 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after acquiring an additional 14,916 shares during the last quarter. Finally, AIA Group Ltd boosted its stake in shares of Bank of New York Mellon by 1.5% during the third quarter. AIA Group Ltd now owns 31,122 shares of the bank’s stock valued at $2,236,000 after acquiring an additional 467 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BK shares. Citigroup raised their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Barclays raised their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Bank of America raised their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.71.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $85.98 on Friday. The company has a market cap of $61.59 billion, a P/E ratio of 14.80, a PEG ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The business’s 50-day simple moving average is $83.85 and its 200 day simple moving average is $77.85.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business posted $1.28 EPS. The company’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.19%. Bank of New York Mellon’s payout ratio is 32.36%.

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.