Aster Capital Management DIFC Ltd Boosts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Aster Capital Management DIFC Ltd lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 117.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,249 shares of the bank’s stock after buying an additional 10,408 shares during the quarter. Bank of New York Mellon comprises 0.6% of Aster Capital Management DIFC Ltd’s investment portfolio, making the stock its 29th biggest position. Aster Capital Management DIFC Ltd’s holdings in Bank of New York Mellon were worth $1,479,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its holdings in shares of Bank of New York Mellon by 0.9% in the third quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock worth $2,118,000 after acquiring an additional 250 shares during the period. Benjamin Edwards Inc. boosted its stake in Bank of New York Mellon by 583.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank’s stock worth $741,000 after purchasing an additional 8,797 shares during the period. IHT Wealth Management LLC grew its holdings in Bank of New York Mellon by 6.9% during the 3rd quarter. IHT Wealth Management LLC now owns 14,200 shares of the bank’s stock valued at $1,020,000 after buying an additional 917 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Bank of New York Mellon by 2.3% during the third quarter. Royal London Asset Management Ltd. now owns 324,611 shares of the bank’s stock valued at $23,327,000 after buying an additional 7,279 shares during the period. Finally, Wellington Management Group LLP lifted 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 worth $234,189,000 after buying an additional 3,142,869 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Down 8.4 %

BK stock opened at $73.17 on Friday. The company has a market capitalization of $52.53 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34. The company’s 50 day moving average price is $84.98 and its two-hundred day moving average price is $80.02.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company earned $1.28 EPS. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, 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 business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.57%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BK shares. Truist Financial decreased their target price on shares of Bank of New York Mellon from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley decreased their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday. 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 research note on Monday, March 3rd. Barclays upped their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Wolfe Research downgraded Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.86.

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.