The Bank of New York Mellon Co. (NYSE:BK) Holdings Boosted by Global Retirement Partners LLC

Global Retirement Partners LLC grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 18.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,408 shares of the bank’s stock after purchasing an additional 985 shares during the period. Global Retirement Partners LLC’s holdings in Bank of New York Mellon were worth $492,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BK. Blue Trust Inc. boosted its holdings in shares of Bank of New York Mellon by 95.4% during the third quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock worth $120,000 after purchasing an additional 817 shares during the period. Private Advisor Group LLC lifted its position in Bank of New York Mellon by 4.0% in the 3rd quarter. Private Advisor Group LLC now owns 53,646 shares of the bank’s stock worth $3,855,000 after buying an additional 2,062 shares in the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of Bank of New York Mellon by 11.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 5,228 shares of the bank’s stock valued at $376,000 after buying an additional 530 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bank of New York Mellon by 10.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,652 shares of the bank’s stock valued at $8,722,000 after acquiring an additional 11,325 shares in the last quarter. Finally, Forsta AP Fonden increased its stake in shares of Bank of New York Mellon by 5.2% in the third quarter. Forsta AP Fonden now owns 232,200 shares of the bank’s stock worth $16,686,000 after acquiring an additional 11,500 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup boosted their target price 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. Morgan Stanley boosted their price target 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. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Up 0.1 %

BK stock opened at $87.29 on Monday. The business’s 50-day simple moving average is $82.04 and its 200 day simple moving average is $76.46. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $89.44. The company has a market cap of $63.46 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.98 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $1.28 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 6.94 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.15%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.