Advisory Alpha LLC Has $292,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Advisory Alpha LLC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,804 shares of the bank’s stock after buying an additional 966 shares during the quarter. Advisory Alpha LLC’s holdings in Bank of New York Mellon were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp increased its position in Bank of New York Mellon by 2.0% in the third 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 during the period. FMR LLC increased its position in Bank of New York Mellon by 78.6% in the third 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 during the period. Ameriprise Financial Inc. increased its position in Bank of New York Mellon by 4.2% in the second 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 during the period. Legal & General Group Plc increased its position in Bank of New York Mellon by 1.2% in the second 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Bank of New York Mellon by 1.8% in the third 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 during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.5 %

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 stock’s fifty day simple moving average is $79.23 and its 200 day simple moving average is $72.82. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market cap of $61.62 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted 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. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 EPS. As a group, research analysts expect 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.22%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is 32.36%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Barclays raised their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. The Goldman Sachs Group raised their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company raised their target price on Bank of New York Mellon from $82.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Bank of New York Mellon Company 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.