Brookstone Capital Management Cuts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Brookstone Capital Management reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,791 shares of the bank’s stock after selling 6,302 shares during the period. Brookstone Capital Management’s holdings in Bank of New York Mellon were worth $9,972,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. increased its holdings in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Clearstead Trust LLC purchased a new position in Bank of New York Mellon in the second quarter valued at about $32,000. Fortitude Family Office LLC increased its holdings in Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares in the last quarter. Grove Bank & Trust increased its holdings in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after buying an additional 144 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Bank of New York Mellon in the third quarter valued at about $46,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $76.04 on Tuesday. The firm has a market cap of $55.29 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The firm’s 50-day simple moving average is $78.58 and its 200-day simple moving average is $71.82. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $52.64 and a 1 year high of $82.72.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Equities analysts forecast that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Saturday, December 14th. Barclays increased their price target on shares of Bank of New York Mellon from $86.00 to $102.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.64.

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.