Kovitz Investment Group Partners LLC Purchases 26,485 Shares of The Bank of New York Mellon Corporation $BK

Kovitz Investment Group Partners LLC increased its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 317,617 shares of the bank’s stock after purchasing an additional 26,485 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Bank of New York Mellon were worth $34,607,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $220,000. Sivia Capital Partners LLC boosted its stake in shares of Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares in the last quarter. Ignite Planners LLC bought a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $240,000. Strategic Blueprint LLC increased its holdings in Bank of New York Mellon by 17.9% during the second quarter. Strategic Blueprint LLC now owns 3,277 shares of the bank’s stock valued at $299,000 after buying an additional 497 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Bank of New York Mellon by 21.8% in the second quarter. Bleakley Financial Group LLC now owns 15,096 shares of the bank’s stock worth $1,375,000 after buying an additional 2,704 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.0%

Shares of BK stock opened at $118.16 on Monday. The stock’s fifty day moving average price is $119.33 and its 200 day moving average price is $111.71. The Bank of New York Mellon Corporation has a 1-year low of $70.46 and a 1-year high of $128.76. The company has a market cap of $82.40 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. On average, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of analyst reports. Truist Financial upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $119.00 to $134.00 in a report on Wednesday, January 7th. New Street Research set a $143.00 price objective on Bank of New York Mellon in a research note on Wednesday, January 14th. Barclays raised their price objective on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Citigroup boosted their target price on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.