Private Advisor Group LLC Raises Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Private Advisor Group LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after acquiring an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $62,589,000. State Street Corp raised its position in Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares during the period. Finally, National Bank of Canada FI lifted its stake in Bank of New York Mellon by 248.3% during the 3rd quarter. National Bank of Canada FI now owns 858,831 shares of the bank’s stock worth $61,715,000 after acquiring an additional 612,287 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. UBS Group boosted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Bank of America boosted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Six 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 company has an average rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Trading Up 0.1 %

NYSE BK opened at $87.29 on Monday. The firm has a market cap of $63.46 billion, a PE ratio of 15.02, a P/E/G ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $89.44. The firm’s fifty day moving average is $82.04 and its two-hundred day moving average is $76.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the business posted $1.28 EPS. The company’s revenue was up 11.2% on a year-over-year basis. Analysts expect that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

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