Invesco Ltd. Has $583.62 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Invesco Ltd. increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,596,210 shares of the bank’s stock after buying an additional 175,704 shares during the quarter. Invesco Ltd. owned approximately 1.04% of Bank of New York Mellon worth $583,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Graney & King LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $35,000. Centricity Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter valued at $39,000. TCTC Holdings LLC raised its position in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after purchasing an additional 430 shares during the period. Modus Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $49,000. Finally, Friedenthal Financial bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $56,000. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on BK shares. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Barclays lifted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley decreased their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, UBS Group upped 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 note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.86.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $73.92 on Tuesday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $90.34. The stock has a market capitalization of $53.07 billion, a price-to-earnings ratio of 12.72, 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 current ratio of 0.69 and a quick ratio of 0.70. The company’s 50 day simple moving average is $84.74 and its 200 day simple moving average is $80.10.

Bank of New York Mellon (NYSE:BK) last issued 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 return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company posted $1.28 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, research analysts predict 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 business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.54%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

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.