Tocqueville Asset Management L.P. Has $1.50 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Tocqueville Asset Management L.P. increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 36.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,498 shares of the bank’s stock after buying an additional 5,190 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Bank of New York Mellon were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of 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 valued at $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. FMR LLC grew its stake in shares of Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares during the last quarter. Amundi increased its holdings in Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after purchasing an additional 359,942 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Bank of New York Mellon by 1.8% during 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 purchasing an additional 117,974 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Bank of New York Mellon by 2,707.1% during the 3rd 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 during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.6 %

Shares of NYSE:BK opened at $83.95 on Thursday. The firm has a market cap of $60.27 billion, a P/E ratio of 14.45, a PEG ratio of 0.97 and a beta of 1.06. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $90.34. The business’s 50 day simple moving average is $84.60 and its two-hundred day simple moving average is $78.80. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last posted 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. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the firm posted $1.28 EPS. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.24%. Bank of New York Mellon’s payout ratio is 32.36%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BK shares. UBS Group raised their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Truist Financial boosted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Barclays increased their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.50.

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.