The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 54,114 shares of the bank’s stock after purchasing an additional 468 shares during the period. Private Advisor Group LLC’s holdings in Bank of New York Mellon were worth $4,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BK. Werba Rubin Papier Wealth Management purchased a new stake in Bank of New York Mellon in the 4th quarter valued at about $229,000. Global Retirement Partners LLC grew its holdings in Bank of New York Mellon by 18.2% in the fourth quarter. Global Retirement Partners LLC now owns 6,408 shares of the bank’s stock valued at $492,000 after purchasing an additional 985 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in Bank of New York Mellon by 86.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 40,672 shares of the bank’s stock worth $3,125,000 after purchasing an additional 18,823 shares during the last quarter. Bfsg LLC increased its position in Bank of New York Mellon by 185.7% during the fourth quarter. Bfsg LLC now owns 15,735 shares of the bank’s stock worth $1,209,000 after purchasing an additional 10,228 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth $103,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BK shares. Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI raised their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Citigroup raised their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Up 0.1 %

BK stock opened at $87.29 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a 50 day simple moving average of $82.04 and a 200-day simple moving average of $76.46. The company has a market capitalization of $63.46 billion, a P/E ratio of 15.02, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.15%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

About Bank of New York Mellon

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.