Beverly Hills Private Wealth LLC Purchases New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Beverly Hills Private Wealth LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,011 shares of the bank’s stock, valued at approximately $261,000.

Several other hedge funds have also made changes to their positions in the company. Conning Inc. acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $201,000. Louisiana State Employees Retirement System acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $2,420,000. Simplicity Solutions LLC increased its stake in Bank of New York Mellon by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 13,850 shares of the bank’s stock valued at $721,000 after buying an additional 751 shares during the period. Hartford Financial Management Inc. increased its stake in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares during the period. Finally, Genesee Capital Advisors LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at approximately $243,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $55.09 on Tuesday. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The firm’s fifty day simple moving average is $55.77 and its 200 day simple moving average is $51.00. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $41.48 billion, a PE ratio of 13.88, a PEG ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business posted $1.30 EPS. Bank of New York Mellon’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.05%. Bank of New York Mellon’s payout ratio is presently 42.32%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $52.00 to $62.00 in a research note on Tuesday, January 30th. UBS Group increased their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. upgraded shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price target on the stock in a research note on Monday, December 18th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.72.

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.