E. Ohman J or Asset Management AB Purchases 5,950 Shares of The Bank of New York Mellon Co. (NYSE:BK)

E. Ohman J or Asset Management AB lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,803 shares of the bank’s stock after purchasing an additional 5,950 shares during the period. E. Ohman J or Asset Management AB’s holdings in Bank of New York Mellon were worth $2,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. United Advisor Group LLC acquired a new position in shares of Bank of New York Mellon in the third quarter valued at $595,000. Czech National Bank raised its holdings in Bank of New York Mellon by 4.9% in the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after acquiring an additional 7,316 shares during the period. Principal Financial Group Inc. lifted its position in Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after acquiring an additional 14,916 shares during the last quarter. Chase Investment Counsel Corp boosted its holdings in shares of Bank of New York Mellon by 67.2% during the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after acquiring an additional 33,558 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Bank of New York Mellon by 130.1% in the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after purchasing an additional 184,560 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $84.90 on Wednesday. The stock has a market cap of $61.73 billion, a PE ratio of 14.61, a P/E/G ratio of 0.98 and a beta of 1.08. 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 $87.70. The business’s 50-day moving average price is $80.37 and its two-hundred day moving average price is $74.19.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion for 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%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. 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 research note on Thursday, January 16th. Citigroup upped their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Evercore ISI increased their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lifted their price target 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. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

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.