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 raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 7.7% in the fourth quarter, Holdings Channel reports. The fund owned 210,000 shares of the bank’s stock after acquiring an additional 15,000 shares during the period. 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in Bank of New York Mellon by 0.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock worth $2,118,000 after purchasing an additional 250 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Bank of New York Mellon by 583.0% during the third quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank’s stock worth $741,000 after acquiring an additional 8,797 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Bank of New York Mellon by 57.8% during the third quarter. Hilltop Holdings Inc. now owns 8,958 shares of the bank’s stock worth $644,000 after acquiring an additional 3,282 shares during the period. HighTower Advisors LLC lifted its position in Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after acquiring an additional 184,560 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its stake in Bank of New York Mellon by 6.9% in the 3rd quarter. IHT Wealth Management LLC now owns 14,200 shares of the bank’s stock worth $1,020,000 after purchasing an additional 917 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BK shares. Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Citigroup raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, March 24th. Finally, Truist Financial cut their price target on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.86.

Bank of New York Mellon Price Performance

NYSE:BK opened at $73.17 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The stock’s 50 day moving average price is $84.98 and its two-hundred day moving average price is $79.95. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

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.