Allianz SE Acquires Shares of 38,867 The Bank of New York Mellon Co. (NYSE:BK)

Allianz SE purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 38,867 shares of the bank's stock, valued at approximately $2,997,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank's stock worth $2,393,915,000 after acquiring an additional 659,096 shares during the period. Norges Bank bought a new position in shares of Bank of New York Mellon in the 4th quarter worth $1,150,462,000. Amundi grew its stake in shares of Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after purchasing an additional 359,942 shares during the period. Wellington Management Group LLP increased its holdings in Bank of New York Mellon by 2,707.1% in the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock valued at $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Bank of New York Mellon by 8.3% in the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank's stock valued at $172,348,000 after buying an additional 173,347 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Down 4.1 %

NYSE:BK traded down $3.49 during trading hours on Thursday, reaching $80.73. 1,316,085 shares of the stock were exchanged, compared to its average volume of 3,893,424. 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 Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The stock has a market cap of $57.96 billion, a PE ratio of 13.90, a PEG ratio of 0.97 and a beta of 1.03. The firm has a 50 day moving average of $85.33 and a 200 day moving average of $79.94.

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Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The firm's revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

BK has been the subject of several analyst reports. Evercore ISI boosted their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Citigroup boosted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report on Monday, March 24th. Finally, Morgan Stanley dropped their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $90.07.

Bank of New York Mellon 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.