HF Advisory Group LLC Has $733,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

HF Advisory Group LLC decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,543 shares of the bank’s stock after selling 820 shares during the quarter. HF Advisory Group LLC’s holdings in Bank of New York Mellon were worth $733,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aaron Wealth Advisors LLC raised its holdings in shares of Bank of New York Mellon by 10.3% in the 4th quarter. Aaron Wealth Advisors LLC now owns 8,694 shares of the bank’s stock worth $668,000 after buying an additional 815 shares in the last quarter. BNC Wealth Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $3,880,000. Kera Capital Partners Inc. acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $202,000. HB Wealth Management LLC grew its holdings in shares of Bank of New York Mellon by 37.9% in the 4th quarter. HB Wealth Management LLC now owns 18,815 shares of the bank’s stock worth $1,446,000 after purchasing an additional 5,172 shares during the last quarter. Finally, Trust Co. of Vermont lifted its holdings in Bank of New York Mellon by 11.3% during the 4th quarter. Trust Co. of Vermont now owns 9,358 shares of the bank’s stock valued at $719,000 after purchasing an additional 949 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 1.3 %

NYSE:BK opened at $83.31 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $83.67. The firm has a market capitalization of $60.57 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08. The business’s 50-day moving average price is $78.87 and its two-hundred day moving average price is $72.24.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business 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 company posted $1.28 EPS. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts expect that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed 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 dividend yield of 2.26%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods lifted their target price on shares of 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. Barclays boosted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Citigroup upped 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

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.