Todd Asset Management LLC Boosts Stake in The Bank of New York Mellon Corporation $BK

Todd Asset Management LLC lifted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 126.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 269,856 shares of the bank’s stock after purchasing an additional 150,524 shares during the quarter. Todd Asset Management LLC’s holdings in Bank of New York Mellon were worth $29,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Bank of New York Mellon by 0.7% in the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock valued at $6,477,206,000 after buying an additional 517,081 shares in the last quarter. Geode Capital Management LLC raised its holdings in Bank of New York Mellon by 4.3% during the second quarter. Geode Capital Management LLC now owns 18,898,373 shares of the bank’s stock worth $1,717,074,000 after purchasing an additional 785,478 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Bank of New York Mellon by 0.9% in the second quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock valued at $1,439,831,000 after purchasing an additional 139,544 shares during the last quarter. Norges Bank acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $1,081,847,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Bank of New York Mellon by 36.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after buying an additional 577,621 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 2.4%

NYSE BK opened at $117.67 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.71 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The business has a 50 day moving average price of $119.16 and a two-hundred day moving average price of $111.10. The stock has a market cap 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 posted its 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%. As a group, sell-side analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s payout ratio is presently 28.61%.

Analyst Ratings Changes

A number of research firms recently commented on BK. Citigroup increased their price objective 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. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Barclays lifted their price target on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, New Street Research set a $143.00 price objective on Bank of New York Mellon in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon 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.