Ritholtz Wealth Management Has $1.25 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Ritholtz Wealth Management raised its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 23,937 shares of the bank’s stock after purchasing an additional 2,289 shares during the period. Ritholtz Wealth Management’s holdings in Bank of New York Mellon were worth $1,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Laurel Wealth Advisors Inc. grew its position in Bank of New York Mellon by 1.7% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 14,451 shares of the bank’s stock worth $717,000 after acquiring an additional 245 shares during the last quarter. Arjuna Capital raised its stake in shares of Bank of New York Mellon by 0.5% during the third quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock valued at $2,066,000 after acquiring an additional 251 shares during the last quarter. BRYN MAWR TRUST Co boosted its holdings in shares of Bank of New York Mellon by 3.3% during the third quarter. BRYN MAWR TRUST Co now owns 8,000 shares of the bank’s stock worth $341,000 after purchasing an additional 258 shares during the period. Farther Finance Advisors LLC increased its holdings in Bank of New York Mellon by 14.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,102 shares of the bank’s stock valued at $94,000 after purchasing an additional 268 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its holdings in Bank of New York Mellon by 17.7% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,856 shares of the bank’s stock worth $97,000 after buying an additional 279 shares during the period. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday. JPMorgan Chase & Co. raised Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price for the company in a research report on Monday, December 18th. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. Finally, UBS Group increased their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.65.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bank of New York Mellon news, VP Hanneke Smits sold 15,425 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total transaction of $850,843.00. Following the completion of the sale, the vice president now directly owns 119,656 shares in the company, valued at approximately $6,600,224.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine Keating sold 4,498 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 1.2 %

Shares of NYSE BK opened at $57.63 on Friday. The company has a market cap of $43.39 billion, a PE ratio of 14.52, a P/E/G ratio of 1.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s 50 day moving average price is $55.42 and its 200-day moving average price is $49.80. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $57.88.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, January 12th. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.30 billion. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.26 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Monday, January 22nd were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Friday, January 19th. Bank of New York Mellon’s dividend payout ratio is currently 42.32%.

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.