LPL Financial LLC Acquires 74,948 Shares of The Bank of New York Mellon Co. (NYSE:BK)

LPL Financial LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 448,672 shares of the bank's stock after acquiring an additional 74,948 shares during the quarter. LPL Financial LLC owned 0.06% of Bank of New York Mellon worth $34,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BK. State Street Corp boosted its holdings in Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank's stock worth $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. Amundi boosted its stake in shares of Bank of New York Mellon by 5.1% in the 4th quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after buying an additional 359,942 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Bank of New York Mellon by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank's stock worth $476,726,000 after buying an additional 117,974 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 acquiring an additional 3,142,869 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Bank of New York Mellon by 8.3% during the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank's stock valued at $172,348,000 after acquiring an additional 173,347 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have issued reports on BK shares. Citigroup upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. UBS Group increased their price target on shares of 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. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Truist Financial upped their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the company a "buy" rating in a research note 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.00.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded up $0.60 during midday trading on Wednesday, reaching $84.37. 474,497 shares of the company traded hands, compared to its average volume of 3,888,017. The firm's fifty day moving average price is $85.33 and its two-hundred day moving average price is $79.90. The firm has a market capitalization of $60.58 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. 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.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results 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. 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 for the quarter, compared to analysts' expectations of $4.66 billion. During the same period in the prior year, the business posted $1.28 earnings per share. The company'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 company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's dividend payout ratio is presently 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.