BlackRock Fund Advisors recently announced the acquisition of new stake in Bank Of New York Mellon Corp (NYSE:BK). The institutional investor has increased its shareholding in the Financial company by 3.67% to 40.44 million shares with purchase of 1.43 million shares. This fresh investment now brings its stake to 5.26% valued currently at $2.1 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.73 million to 32.17 million shares. And Geode Capital Management LLC has lifted its position by 8.37% or 1.3 million shares – to 16.83 million shares.
Currently, there are 769.07M common shares owned by the public and among those 767.26M shares have been available to trade.
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Insiders at the company have transacted a total of 99 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 696,759 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 293,563 shares.
The top 3 mutual fund holders in Bank Of New York Mellon Corp are Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Dodge & Cox Stock Fund owns 37.33 million shares of the company’s stock, all valued at over $1.94 billion. The company bought an additional 0.2 million shares recently to bring their total holdings to about 4.85% of the shares outstanding. Vanguard Total Stock Market ETF sold -0.26 million shares to see its total holdings shrink to 24.13 million shares valued at over $1.26 billion and representing 3.14% of the shares outstanding. Vanguard 500 Index Fund sold -0.21 million shares to bring its total holdings to over 18.78 million shares at a value of $977.42 million. Vanguard 500 Index Fund now owns shares totaling to 2.44% of the shares outstanding.
The company’s stock has a 5-day price change of 1.95% and 32.72% over the past three months. BK shares are trading 7.40% year to date (YTD), with the 12-month market performance up to 10.45% higher. It has a 12-month low price of $39.65 and touched a high of $55.83 over the same period. BK has an average intraday trading volume of 4.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.10%, 9.84%, and 23.29% respectively.
Institutional ownership of Bank Of New York Mellon Corp (NYSE: BK) shares accounts for 84.76% of the company’s 769.07M shares outstanding. Mutual fund holders own 33.88%, while other institutional holders and individual stakeholders account for 51.52% and 16.36% respectively.
It has a market capitalization of $42.99B and a beta (3y monthly) value of 1.11. The stock’s trailing 12-month PE ratio is 14.06, while the earnings-per-share (ttm) stands at $3.98. The company has a PEG of 1.20 and the debt-to-equity ratio at 1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.20% over the week and 1.35% over the month.
Analysts forecast that Bank Of New York Mellon Corp (BK) will achieve an EPS of $1.18 for the current quarter, $1.35 for the next quarter and $5.86 for 2025. The lowest estimate earnings-per-share for the quarter is $1.09 while analysts give the company a high EPS estimate of $1.33. Comparatively, EPS for the current quarter was $1.13 a year ago. Earnings per share for the fiscal year are expected to increase by 29.92%, and 10.86% over the next financial year. EPS should grow at an annualized rate of 11.76% over the next five years, compared to -0.20% over the past 5-year period.
Looking at the support for the BK, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on December 18, 2023, with the firm’s price target at $54.50.
