Mirae Asset Global Investments Co. Ltd. Boosts Position in The Bank of New York Mellon Corporation $BK

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 24.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,408 shares of the bank’s stock after buying an additional 42,555 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Bank of New York Mellon were worth $23,907,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $220,000. Sivia Capital Partners LLC boosted its holdings in Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after acquiring an additional 909 shares during the period. GC Wealth Management RIA LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $342,000. Janney Montgomery Scott LLC grew its position in Bank of New York Mellon by 2.3% in the second quarter. Janney Montgomery Scott LLC now owns 133,089 shares of the bank’s stock valued at $12,126,000 after acquiring an additional 2,965 shares in the last quarter. Finally, HB Wealth Management LLC raised its stake in shares of Bank of New York Mellon by 7.4% during the second quarter. HB Wealth Management LLC now owns 32,050 shares of the bank’s stock valued at $2,920,000 after purchasing an additional 2,201 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 target price for the company. TD Cowen boosted their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Citigroup raised their target price on Bank of New York Mellon from $120.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Barclays lifted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Morgan Stanley increased their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Price Performance

BK opened at $121.33 on Friday. The company has a market capitalization of $84.61 billion, a P/E ratio of 16.37, a PEG ratio of 1.11 and a beta of 1.11. The company has a 50-day moving average of $116.93 and a 200-day moving average of $109.21. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $125.89.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The business had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. Equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd will be given a $0.53 dividend. The ex-dividend date is Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

About Bank of New York Mellon

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.