4,915 Shares in The Bank of New York Mellon Corporation $BK Acquired by SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,915 shares of the bank’s stock, valued at approximately $448,000. Bank of New York Mellon comprises about 0.3% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co’s investment portfolio, making the stock its 24th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in BK. Nuveen LLC bought a new position in shares of Bank of New York Mellon in the 1st quarter valued at $773,627,000. Goldman Sachs Group Inc. grew its position in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after acquiring an additional 1,052,145 shares during the last quarter. Wellington Management Group LLP increased its holdings in Bank of New York Mellon by 257.6% in the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock worth $103,685,000 after purchasing an additional 890,593 shares in the last quarter. AQR Capital Management LLC raised its position in Bank of New York Mellon by 37.7% in the first quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after purchasing an additional 887,361 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Bank of New York Mellon by 126.9% during the first quarter. Citigroup Inc. now owns 1,557,145 shares of the bank’s stock valued at $130,598,000 after purchasing an additional 870,844 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BMO Capital Markets initiated coverage on Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective for the company. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. TD Cowen upped their price target on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, October 17th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.29.

Bank of New York Mellon Trading Up 0.0%

NYSE:BK opened at $107.50 on Thursday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $113.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.72 and a current ratio of 0.70. The firm’s fifty day moving average is $107.89 and its 200-day moving average is $99.67. The firm has a market cap of $74.97 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The business had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. Equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is currently 30.59%.

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.