Davis Selected Advisers Has $110.12 Million Stock Position in The Bank of New York Mellon Corporation $BK

Davis Selected Advisers lessened its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 46.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,010,681 shares of the bank’s stock after selling 887,749 shares during the quarter. Davis Selected Advisers’ holdings in Bank of New York Mellon were worth $110,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BK. Vanguard Group Inc. increased its position in Bank of New York Mellon by 0.7% during the second quarter. Vanguard Group Inc. now owns 71,092,148 shares of the bank’s stock worth $6,477,206,000 after acquiring an additional 517,081 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Bank of New York Mellon by 0.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 15,803,214 shares of the bank’s stock worth $1,439,831,000 after purchasing an additional 139,544 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Bank of New York Mellon by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after purchasing an additional 2,034,781 shares in the last quarter. Norges Bank bought a new position in shares of Bank of New York Mellon during the second quarter worth approximately $1,081,847,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Bank of New York Mellon by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after purchasing an additional 6,119,749 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. TD Cowen boosted their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada lifted their price objective on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. Barclays increased their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Keefe, Bruyette & Woods raised their price target on 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. Finally, Citigroup initiated coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Stock Down 1.3%

NYSE BK opened at $114.61 on Thursday. The business has a fifty day moving average price of $119.32 and a two-hundred day moving average price of $113.42. The stock has a market capitalization of $78.88 billion, a PE ratio of 15.47, a PEG ratio of 1.08 and a beta of 1.10. 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 company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71.

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. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The company had revenue of $5.07 billion for the quarter. Equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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