Mirae Asset Global Investments Co. Ltd. Purchases 13,906 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 135,558 shares of the bank’s stock after buying an additional 13,906 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Bank of New York Mellon were worth $10,480,000 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. United Advisor Group LLC bought a new stake in Bank of New York Mellon during the 3rd quarter worth about $595,000. Czech National Bank grew its position in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after buying an additional 7,316 shares during the period. Principal Financial Group Inc. grew its position in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after buying an additional 14,916 shares during the period. Chase Investment Counsel Corp grew its position in shares of Bank of New York Mellon by 67.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after buying an additional 33,558 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock worth $23,449,000 after buying an additional 184,560 shares during the period. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America boosted their target price on 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. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, UBS Group boosted their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Trading Up 0.7 %

NYSE:BK opened at $86.35 on Friday. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $87.70. 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 business has a 50 day moving average price of $80.52 and a two-hundred day moving average price of $74.43. The company has a market cap of $62.78 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share 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 firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s revenue was up 11.2% on a year-over-year basis. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 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.