Ilmarinen Mutual Pension Insurance Co Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Ilmarinen Mutual Pension Insurance Co raised its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,000 shares of the bank's stock after purchasing 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 large investors also recently modified their holdings of the company. Graney & King LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $35,000. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter valued at about $39,000. TCTC Holdings LLC increased its position 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 acquiring an additional 430 shares during the period. Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth about $49,000. Finally, Friedenthal Financial bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $56,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BK. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note 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 company a "buy" rating in a research report on Thursday, January 16th. Finally, Morgan Stanley decreased their price target 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, April 2nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $89.86.

Bank of New York Mellon Trading Down 2.6 %

Shares of Bank of New York Mellon stock traded down $2.07 on Thursday, hitting $77.28. 2,826,185 shares of the company's stock traded hands, compared to its average volume of 3,958,556. The company has a market capitalization of $55.48 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The company has a fifty day moving average of $83.95 and a two-hundred day moving average of $80.10. 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 one year low of $52.64 and a one year high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 EPS. As a group, sell-side 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 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 2.43%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio (DPR) 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.