The Bank of New York Mellon Co. (NYSE:BK) Stake Lifted by Waldron Private Wealth LLC

Waldron Private Wealth LLC boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,982 shares of the bank’s stock after purchasing an additional 1,184 shares during the period. Waldron Private Wealth LLC’s holdings in Bank of New York Mellon were worth $363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BK. Acadian Asset Management LLC lifted its stake in Bank of New York Mellon by 160.0% during the first quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock valued at $263,000 after purchasing an additional 3,297 shares during the last quarter. Prudential PLC purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $1,096,000. Cetera Investment Advisers lifted its position in shares of Bank of New York Mellon by 3.3% in the 1st quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after acquiring an additional 1,154 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Bank of New York Mellon by 54.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock valued at $11,519,000 after acquiring an additional 81,728 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in shares of Bank of New York Mellon by 165.3% in the 1st quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after acquiring an additional 909 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on BK. Evercore ISI increased their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upgraded shares of 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. Citigroup increased their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, UBS Group increased their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.72.

Bank of New York Mellon Trading Up 0.1 %

Shares of BK stock opened at $55.09 on Tuesday. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The company has a market capitalization of $41.48 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.18 and a beta of 1.12. The firm has a 50-day moving average price of $55.77 and a 200 day moving average price of $51.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, January 12th. The bank reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.16. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. Research analysts forecast that The Bank of New York Mellon Co. will post 5.33 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.05%. Bank of New York Mellon’s payout ratio is presently 42.32%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon 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 sale, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

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.