Signature Wealth Management Group Lowers Position in The Bank of New York Mellon Co. (NYSE:BK)

Signature Wealth Management Group cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 7.0% in the fourth quarter, Holdings Channel reports. The fund owned 59,683 shares of the bank’s stock after selling 4,504 shares during the quarter. Bank of New York Mellon accounts for approximately 1.8% of Signature Wealth Management Group’s portfolio, making the stock its 12th largest position. Signature Wealth Management Group’s holdings in Bank of New York Mellon were worth $4,585,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Czech National Bank lifted its position in shares of Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after buying an additional 7,316 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Bank of New York Mellon by 130.1% during the third quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after buying an additional 184,560 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Bank of New York Mellon by 1.2% during the third quarter. Primecap Management Co. CA now owns 719,900 shares of the bank’s stock valued at $51,732,000 after buying an additional 8,400 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of Bank of New York Mellon during the third quarter valued at about $1,010,000. Finally, Fifth Third Bancorp lifted its position in shares of Bank of New York Mellon by 9.2% during the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock valued at $7,226,000 after buying an additional 7,935 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup upped their price objective 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. 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. Finally, Evercore ISI upped 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 report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Bank of New York Mellon Trading Up 2.8 %

Bank of New York Mellon stock opened at $81.87 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $90.34. The stock’s 50 day simple moving average is $84.30 and its two-hundred day simple moving average is $78.47. The firm has a market cap of $58.78 billion, a PE ratio of 14.09, a P/E/G ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.30%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

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.