Allen Wealth Management LLC Has $1.83 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Allen Wealth Management LLC decreased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,771 shares of the bank’s stock after selling 1,482 shares during the quarter. Bank of New York Mellon makes up about 1.3% of Allen Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Allen Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of BK. D.A. Davidson & CO. increased its holdings in shares of Bank of New York Mellon by 3.3% during the third quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank’s stock worth $525,000 after buying an additional 231 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Bank of New York Mellon by 0.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank’s stock worth $2,118,000 after acquiring an additional 250 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Bank of New York Mellon by 583.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank’s stock valued at $741,000 after purchasing an additional 8,797 shares in the last quarter. Ascent Group LLC raised its position in Bank of New York Mellon by 81.3% in the 3rd quarter. Ascent Group LLC now owns 12,666 shares of the bank’s stock valued at $910,000 after purchasing an additional 5,680 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new position in Bank of New York Mellon in the third quarter worth $1,786,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BK shares. Truist Financial raised their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research note on Tuesday. Bank of America increased their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. UBS Group boosted their price objective on shares of 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. Finally, Morgan Stanley reduced 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.07.

Bank of New York Mellon Stock Up 0.7 %

Shares of Bank of New York Mellon stock opened at $84.33 on Thursday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The business has a fifty day simple moving average of $85.33 and a 200 day simple moving average of $79.94. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock has a market cap of $60.55 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) 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 return on equity of 12.68% and a net margin of 11.35%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 EPS. Research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders 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 annualized dividend and a yield of 2.23%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.