Fiduciary Financial Group LLC Has $482,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Fiduciary Financial Group LLC cut its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,388 shares of the bank’s stock after selling 366 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Bank of New York Mellon were worth $482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Studio Investment Management LLC lifted its stake in shares of Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after purchasing an additional 134 shares during the period. Stanley Laman Group Ltd. lifted its stake in shares of Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after purchasing an additional 135 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after purchasing an additional 137 shares during the period. Frank Rimerman Advisors LLC lifted its stake in shares of Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after purchasing an additional 142 shares during the period. Finally, Sigma Planning Corp lifted its stake in shares of Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after purchasing an additional 143 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BK shares. Morgan Stanley dropped their price objective on Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, January 2nd. Truist Financial began coverage on Bank of New York Mellon in a research report on Tuesday, January 7th. They issued a “buy” rating and a $91.00 target price for the company. Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Saturday, December 14th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.64.

Bank of New York Mellon Stock Performance

Shares of BK opened at $75.93 on Wednesday. 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 stock has a 50 day moving average price of $78.58 and a two-hundred day moving average price of $71.94. The firm has a market capitalization of $55.21 billion, a P/E ratio of 16.51, a P/E/G ratio of 0.91 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $82.72.

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.