The Bank of New York Mellon Co. (NYSE:BK) Holdings Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,580 shares of the bank’s stock after purchasing an additional 12,084 shares during the period. Nisa Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $11,108,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. grew its position in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth $49,000. Ashton Thomas Securities LLC purchased a new stake in shares of Bank of New York Mellon during the third quarter worth $46,000. Finally, Grove Bank & Trust boosted its position in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $84.75 on Friday. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $85.81. The company has a market cap of $61.62 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.97 and a beta of 1.08. The business’s 50 day moving average is $79.23 and its two-hundred day moving average is $72.82. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last announced its earnings results 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 net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the firm posted $1.28 earnings per share. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.86 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on BK. The Goldman Sachs Group raised their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Barclays boosted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup lifted their price objective on shares of 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. Finally, Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently 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.