Desjardins Global Asset Management Inc. Has $1.48 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Desjardins Global Asset Management Inc. raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,494 shares of the bank’s stock after buying an additional 305 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Bank of New York Mellon were worth $1,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its position in shares of Bank of New York Mellon by 160.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock valued at $263,000 after acquiring an additional 3,297 shares during the period. Prudential PLC bought a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $1,096,000. Cetera Investment Advisers grew its position in shares of Bank of New York Mellon by 3.3% in the 1st quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after acquiring an additional 1,154 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of Bank of New York Mellon by 54.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock valued at $11,519,000 after acquiring an additional 81,728 shares during the period. Finally, Zions Bancorporation N.A. grew its position in shares of Bank of New York Mellon by 165.3% in the 1st quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after acquiring an additional 909 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Citigroup lifted their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of “Hold” and a consensus target price of $56.72.

Bank of New York Mellon Stock Performance

NYSE BK opened at $53.99 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $40.64 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.18 and a beta of 1.12. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The firm has a 50-day moving average price of $55.75 and a two-hundred day moving average price of $51.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 EPS. Analysts anticipate that The Bank of New York Mellon Co. will post 5.33 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 42.32%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

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.