KLP Kapitalforvaltning AS Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

KLP Kapitalforvaltning AS purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 368,710 shares of the bank’s stock, valued at approximately $28,328,000. KLP Kapitalforvaltning AS owned 0.05% of Bank of New York Mellon at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BK. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $39,000. TCTC Holdings LLC lifted its holdings in shares of Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after acquiring an additional 430 shares during the period. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $49,000. Friedenthal Financial bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $56,000. Finally, Asset Dedication LLC lifted its holdings in shares of Bank of New York Mellon by 342.1% during the 4th quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after acquiring an additional 585 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock opened at $83.46 on Friday. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. 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 company has a fifty day moving average price of $84.88 and a 200-day moving average price of $79.02. The company has a market capitalization of $59.92 billion, a P/E ratio of 14.36, a PEG ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company 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 posted $1.28 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Truist Financial increased their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Citigroup increased their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.50.

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.