M&G PLC Has $72.34 Million Stake in The Bank of New York Mellon Corporation $BK

M&G PLC reduced its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 12.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 663,691 shares of the bank’s stock after selling 96,284 shares during the quarter. M&G PLC’s holdings in Bank of New York Mellon were worth $72,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Revolve Wealth Partners LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth approximately $220,000. Sivia Capital Partners LLC increased its holdings in shares of Bank of New York Mellon by 36.6% during 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 last quarter. Ignite Planners LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $240,000. Harbour Investments Inc. raised its stake in Bank of New York Mellon by 8.9% in the 2nd quarter. Harbour Investments Inc. now owns 1,771 shares of the bank’s stock valued at $161,000 after acquiring an additional 144 shares during the period. Finally, Mutual Advisors LLC lifted its holdings in Bank of New York Mellon by 15.5% during the 2nd quarter. Mutual Advisors LLC now owns 5,658 shares of the bank’s stock valued at $571,000 after purchasing an additional 758 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 2.4%

Shares of BK opened at $117.67 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76. The firm’s 50 day moving average is $119.16 and its 200-day moving average is $111.10. The stock has a market capitalization of $82.05 billion, a PE ratio of 15.88, a P/E/G ratio of 1.10 and a beta of 1.10.

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

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is 28.61%.

Wall Street Analysts Forecast Growth

BK has been the topic of several research analyst reports. TD Cowen increased their price objective on shares of Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. Finally, Wells Fargo & Company lifted their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, 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 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.