The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 21.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,277 shares of the bank’s stock after buying an additional 757 shares during the period. Simplicity Wealth LLC’s holdings in Bank of New York Mellon were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Sound View Wealth Advisors Group LLC increased its holdings in shares of Bank of New York Mellon by 18.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 4,486 shares of the bank’s stock valued at $345,000 after acquiring an additional 700 shares during the period. AlphaQuest LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $1,196,000. OFI Invest Asset Management acquired a new position in Bank of New York Mellon in the 4th quarter valued at $2,132,000. Personal CFO Solutions LLC increased its stake in Bank of New York Mellon by 48.7% in the 4th quarter. Personal CFO Solutions LLC now owns 6,910 shares of the bank’s stock valued at $531,000 after buying an additional 2,263 shares during the period. Finally, Amundi increased its stake in Bank of New York Mellon by 5.1% in the 4th quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after buying an additional 359,942 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods boosted their target price on shares of 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Barclays boosted 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 report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.71.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $84.17 on Tuesday. The firm has a market capitalization of $60.43 billion, a PE ratio of 14.49, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm’s 50-day simple moving average is $83.99 and its 200 day simple moving average is $78.16. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its earnings results 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. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.23%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

Bank of New York Mellon Company 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.