Sound View Wealth Advisors Group LLC Has $345,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Sound View Wealth Advisors Group LLC lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 18.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,486 shares of the bank’s stock after acquiring an additional 700 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Bank of New York Mellon were worth $345,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BK. AlphaQuest LLC acquired a new position in Bank of New York Mellon in the 4th quarter worth about $1,196,000. OFI Invest Asset Management bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $2,132,000. Personal CFO Solutions LLC increased its holdings in Bank of New York Mellon by 48.7% in the fourth quarter. Personal CFO Solutions LLC now owns 6,910 shares of the bank’s stock worth $531,000 after buying an additional 2,263 shares during the last quarter. Amundi raised its position in Bank of New York Mellon by 5.1% during the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after acquiring an additional 359,942 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in Bank of New York Mellon by 6.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,058 shares of the bank’s stock valued at $389,000 after acquiring an additional 294 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BK. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Citigroup raised their target price on 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. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. UBS Group raised their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.71.

Bank of New York Mellon Price Performance

NYSE:BK opened at $84.17 on Tuesday. 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 stock has a market cap of $60.43 billion, a P/E ratio of 14.49, a PEG ratio of 0.97 and a beta of 1.06. The company has a fifty day moving average price of $83.99 and a 200 day moving average price of $78.16. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $1.28 earnings per share. Bank of New York Mellon’s quarterly revenue was up 11.2% on a year-over-year basis. Analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is 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.