Advisory Alpha LLC Purchases 966 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Advisory Alpha LLC lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 34.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,804 shares of the bank’s stock after purchasing an additional 966 shares during the quarter. Advisory Alpha LLC’s holdings in Bank of New York Mellon were worth $292,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. FMR LLC grew its holdings in shares of Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Bank of New York Mellon by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock worth $482,597,000 after purchasing an additional 97,286 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Bank of New York Mellon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock worth $476,726,000 after purchasing an additional 117,974 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of BK opened at $84.75 on Friday. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $85.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market capitalization of $61.62 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The business has a 50-day moving average of $79.23 and a 200-day moving average of $72.82.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BK shares. UBS Group increased their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays raised their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” 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 note on Monday, November 25th. Six 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.