World Investment Advisors Has $3.21 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

World Investment Advisors lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,833 shares of the bank’s stock after buying an additional 5,408 shares during the period. World Investment Advisors’ holdings in Bank of New York Mellon were worth $3,214,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Graney & King LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $35,000. Centricity Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth $39,000. TCTC Holdings LLC increased its stake in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after buying an additional 430 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at about $49,000. Finally, Friedenthal Financial acquired a new position in Bank of New York Mellon during the 4th quarter worth about $56,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $73.17 on Friday. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a 50 day moving average price of $84.98 and a 200 day moving average price of $79.95. The stock has a market capitalization of $52.53 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. Analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is currently 32.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. UBS Group lifted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Citigroup upped their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.86.

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.