Avanza Fonder AB Makes New $4.16 Million Investment in The Bank of New York Mellon Co. (NYSE:BK)

Avanza Fonder AB purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,094 shares of the bank’s stock, valued at approximately $4,156,000.

Several other large investors have also modified their holdings of the business. Axxcess Wealth Management LLC boosted its stake in shares of Bank of New York Mellon by 45.4% during the second quarter. Axxcess Wealth Management LLC now owns 10,855 shares of the bank’s stock valued at $650,000 after acquiring an additional 3,389 shares during the last quarter. Argent Trust Co boosted its stake in shares of Bank of New York Mellon by 10.5% during the 2nd quarter. Argent Trust Co now owns 21,855 shares of the bank’s stock worth $1,309,000 after purchasing an additional 2,072 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Bank of New York Mellon by 3.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,937 shares of the bank’s stock worth $1,493,000 after buying an additional 897 shares in the last quarter. Blair William & Co. IL raised its position in shares of Bank of New York Mellon by 10.7% in the second quarter. Blair William & Co. IL now owns 23,691 shares of the bank’s stock valued at $1,419,000 after buying an additional 2,298 shares during the last quarter. Finally, XTX Topco Ltd raised its position in shares of Bank of New York Mellon by 95.7% in the second quarter. XTX Topco Ltd now owns 25,427 shares of the bank’s stock valued at $1,523,000 after buying an additional 12,432 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI increased their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday. Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.14.

Bank of New York Mellon Price Performance

BK opened at $83.31 on Friday. The company has a 50 day moving average of $78.74 and a two-hundred day moving average of $72.08. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $83.67. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market cap of $60.57 billion, a P/E ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the company earned $1.28 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. On average, analysts expect that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.26%. Bank of New York Mellon’s payout ratio is currently 40.87%.

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.