Meiji Yasuda Asset Management Co Ltd. Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,414 shares of the bank’s stock after buying an additional 1,045 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Bank of New York Mellon were worth $1,953,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BK. Centricity Wealth Management LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at approximately $39,000. TCTC Holdings LLC lifted its holdings in shares of Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after buying an additional 430 shares during the period. Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth $49,000. Friedenthal Financial bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $56,000. Finally, Asset Dedication LLC increased its position in Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock valued at $58,000 after acquiring an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.2 %

Bank of New York Mellon stock opened at $85.07 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The firm’s 50 day moving average price is $85.31 and its 200-day moving average price is $79.39. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a market cap of $61.08 billion, a P/E ratio of 14.64, a PEG ratio of 0.97 and a beta of 1.06.

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

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analyst Ratings Changes

Several equities research analysts have recently commented on BK shares. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. UBS Group raised their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Bank of America boosted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.71.

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.