Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in The Bank of New York Mellon Corporation $BK

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,362,596 shares of the bank’s stock after purchasing an additional 91,144 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Bank of New York Mellon were worth $124,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BK. Hemington Wealth Management increased its stake in shares of Bank of New York Mellon by 6.3% during the 2nd quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock valued at $157,000 after acquiring an additional 102 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its holdings in Bank of New York Mellon by 4.0% in the second quarter. Vestmark Advisory Solutions Inc. now owns 2,771 shares of the bank’s stock valued at $252,000 after purchasing an additional 107 shares during the period. Confluence Wealth Services Inc. grew its holdings in Bank of New York Mellon by 1.0% in the second quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 111 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. increased its position in Bank of New York Mellon by 2.2% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock worth $464,000 after purchasing an additional 112 shares during the last quarter. Finally, Sax Wealth Advisors LLC raised its stake in Bank of New York Mellon by 2.3% during the first quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after purchasing an additional 117 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

BK opened at $109.66 on Friday. The firm has a market capitalization of $76.47 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The business’s 50-day moving average is $107.06 and its two-hundred day moving average is $97.99. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Research analysts anticipate 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 30.59%.

Analyst Ratings Changes

BK has been the subject of several research reports. Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Citigroup upped their price target on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company boosted their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

About Bank of New York Mellon

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.