Beverly Hills Private Wealth LLC Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Beverly Hills Private Wealth LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,011 shares of the bank’s stock, valued at approximately $261,000.

Several other institutional investors also recently made changes to their positions in BK. Brown Brothers Harriman & Co. grew its stake in shares of Bank of New York Mellon by 97.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after buying an additional 300 shares during the period. Hartford Financial Management Inc. grew its stake in shares of Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $36,000. Addison Advisors LLC grew its stake in shares of Bank of New York Mellon by 603.2% during the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after buying an additional 754 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at $38,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BK. UBS Group lifted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. 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 on the stock in a report on Monday, December 18th. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.72.

Bank of New York Mellon Stock Performance

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 debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72. The firm 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 company’s fifty day moving average price is $55.77 and its two-hundred day moving average price is $51.00.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, January 12th. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, research analysts anticipate 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 Dividend Announcement

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

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon 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.