HF Advisory Group LLC Has $347,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

HF Advisory Group LLC raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 33.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,663 shares of the bank’s stock after purchasing an additional 1,655 shares during the quarter. HF Advisory Group LLC’s holdings in Bank of New York Mellon were worth $347,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Bank of New York Mellon by 95.1% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,539 shares of the bank’s stock valued at $80,000 after acquiring an additional 750 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Bank of New York Mellon by 10.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 75,900 shares of the bank’s stock valued at $3,950,000 after purchasing an additional 6,960 shares in the last quarter. Scissortail Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $560,000. Tyche Wealth Partners LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth $428,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Bank of New York Mellon by 153.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after buying an additional 941,193 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insiders Place Their Bets

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

Bank of New York Mellon Trading Up 1.4 %

Shares of BK opened at $55.24 on Friday. The firm has a market cap of $41.58 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The business has a 50-day moving average of $55.74 and a 200 day moving average of $51.13.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the company earned $1.13 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.4 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 3.04%. Bank of New York Mellon’s payout ratio is 40.98%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Bank of America upped their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $52.00 to $62.00 in a research report on Tuesday, January 30th. Citigroup lifted their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Hold” and a consensus price target of $59.15.

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.