Beacon Investment Advisory Services Inc. Decreases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Beacon Investment Advisory Services Inc. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,667 shares of the bank’s stock after selling 554 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Bank of New York Mellon were worth $896,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BK. 1832 Asset Management L.P. boosted its stake in Bank of New York Mellon by 1.5% in the second quarter. 1832 Asset Management L.P. now owns 47,837 shares of the bank’s stock valued at $2,865,000 after acquiring an additional 717 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Bank of New York Mellon by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 720,564 shares of the bank’s stock worth $43,162,000 after purchasing an additional 16,104 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Bank of New York Mellon by 59.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 144,496 shares of the bank’s stock valued at $8,654,000 after purchasing an additional 53,835 shares during the last quarter. AXA S.A. grew its holdings in Bank of New York Mellon by 66.3% during the second quarter. AXA S.A. now owns 568,220 shares of the bank’s stock valued at $34,031,000 after purchasing an additional 226,476 shares during the period. Finally, AQR Capital Management LLC increased its position in Bank of New York Mellon by 30.7% in the second quarter. AQR Capital Management LLC now owns 1,624,167 shares of the bank’s stock worth $96,849,000 after buying an additional 381,394 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $84.75 on Friday. The firm has a market capitalization of $61.62 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. 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 Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $85.81. The business’s 50-day moving average price is $79.23 and its 200-day moving average price is $72.82.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $1.28 earnings per share. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.86 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Citigroup increased their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

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.