Aaron Wealth Advisors LLC Has $668,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Aaron Wealth Advisors LLC grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 10.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,694 shares of the bank’s stock after buying an additional 815 shares during the period. Aaron Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BK. BNC Wealth Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $3,880,000. Kera Capital Partners Inc. bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $202,000. HB Wealth Management LLC increased its position in shares of Bank of New York Mellon by 37.9% during the fourth quarter. HB Wealth Management LLC now owns 18,815 shares of the bank’s stock worth $1,446,000 after buying an additional 5,172 shares during the period. Trust Co. of Vermont lifted its holdings in Bank of New York Mellon by 11.3% in the fourth quarter. Trust Co. of Vermont now owns 9,358 shares of the bank’s stock valued at $719,000 after buying an additional 949 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its position in Bank of New York Mellon by 1.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 23,044 shares of the bank’s stock valued at $1,770,000 after acquiring an additional 319 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $83.31 on Monday. The stock has a market cap of $60.57 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $83.67. The firm’s 50-day simple moving average is $78.87 and its 200 day simple moving average is $72.32.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the company earned $1.28 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.88 annualized dividend and a dividend yield of 2.26%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Wall Street Analyst Weigh In

BK has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. 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. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Finally, Barclays increased their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.14.

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.