Profund Advisors LLC Has $946,000 Stock Position in The Bank of New York Mellon Corporation $BK

Profund Advisors LLC reduced its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,378 shares of the bank’s stock after selling 1,140 shares during the quarter. Profund Advisors LLC’s holdings in Bank of New York Mellon were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Nuveen LLC bought a new position in shares of Bank of New York Mellon in the 1st quarter worth $773,627,000. AustralianSuper Pty Ltd acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $92,502,000. Goldman Sachs Group Inc. boosted its stake in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after acquiring an additional 1,052,145 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Bank of New York Mellon by 257.6% during the first quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock worth $103,685,000 after purchasing an additional 890,593 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Bank of New York Mellon by 37.7% in the first quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after buying an additional 887,361 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. TD Cowen raised their price target on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Barclays lifted their price target on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Citigroup raised their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Finally, BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Stock Up 0.2%

BK opened at $111.23 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $107.29 and its 200 day simple moving average is $98.59. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $111.94. The stock has a market cap of $77.57 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The company had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is presently 30.59%.

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.