Choreo LLC Purchases 3,374 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Choreo LLC increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,913 shares of the bank’s stock after purchasing an additional 3,374 shares during the period. Choreo LLC’s holdings in Bank of New York Mellon were worth $4,077,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Czech National Bank lifted its stake in shares of Bank of New York Mellon by 5.5% in the third quarter. Czech National Bank now owns 150,329 shares of the bank’s stock valued at $10,803,000 after buying an additional 7,825 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Bank of New York Mellon by 7.8% in the 3rd quarter. Mather Group LLC. now owns 8,610 shares of the bank’s stock worth $619,000 after acquiring an additional 625 shares during the last quarter. Axiom Advisory LLC lifted its position in Bank of New York Mellon by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 25,600 shares of the bank’s stock valued at $1,684,000 after acquiring an additional 400 shares in the last quarter. Atomi Financial Group Inc. boosted its stake in Bank of New York Mellon by 30.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 8,489 shares of the bank’s stock valued at $610,000 after purchasing an additional 1,971 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in Bank of New York Mellon by 2.8% during the 3rd quarter. Brookstone Capital Management now owns 136,093 shares of the bank’s stock worth $9,780,000 after purchasing an additional 3,645 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of several analyst reports. Barclays lifted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Citigroup increased their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Bank of America increased their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $85.79 on Thursday. The company has a market capitalization of $62.38 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.98 and a beta of 1.08. The business has a fifty day simple moving average of $80.44 and a two-hundred day simple moving average of $74.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $87.70.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. On average, analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s payout ratio is currently 32.36%.

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.