Claro Advisors LLC Decreases Position in The Bank of New York Mellon Co. (NYSE:BK)

Claro Advisors LLC lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,938 shares of the bank’s stock after selling 224 shares during the period. Claro Advisors LLC’s holdings in Bank of New York Mellon were worth $303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BK. Studio Investment Management LLC raised its stake in Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after acquiring an additional 134 shares during the last quarter. Stanley Laman Group Ltd. raised its stake in Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after acquiring an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after acquiring an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake in Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after acquiring an additional 142 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.2 %

BK stock opened at $75.93 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $82.72. The stock has a market cap of $55.21 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.91 and a beta of 1.08. The business’s 50-day moving average is $78.58 and its 200 day moving average is $71.94.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent research reports. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Morgan Stanley reduced their price objective on Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Citigroup lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their target price on Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, January 2nd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.64.

View Our Latest Stock Report on Bank of New York Mellon

Bank of New York Mellon Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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