Ilmarinen Mutual Pension Insurance Co Has $16.13 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Ilmarinen Mutual Pension Insurance Co boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,000 shares of the bank’s stock after buying an additional 15,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Bank of New York Mellon were worth $16,134,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Graney & King LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $35,000. Centricity Wealth Management LLC acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $39,000. TCTC Holdings LLC grew its stake in Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after buying an additional 430 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $49,000. Finally, Friedenthal Financial bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $56,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. UBS Group raised their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Truist Financial lowered their price objective on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.86.

Bank of New York Mellon Price Performance

BK opened at $73.17 on Friday. The company has a fifty day moving average price of $84.98 and a two-hundred day moving average price of $79.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market capitalization of $52.53 billion, a PE ratio of 12.59, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Bank of New York Mellon Company Profile

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.