Accurate Wealth Management LLC Has $414,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Accurate Wealth Management LLC lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,491 shares of the bank’s stock after buying an additional 393 shares during the period. Accurate Wealth Management LLC’s holdings in Bank of New York Mellon were worth $414,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. United Advisor Group LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth $595,000. Czech National Bank raised its holdings in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock worth $12,112,000 after buying an additional 7,316 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after buying an additional 14,916 shares in the last quarter. Chase Investment Counsel Corp raised its holdings in shares of Bank of New York Mellon by 67.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock worth $6,002,000 after buying an additional 33,558 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after acquiring an additional 421,161 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 7.9 %

Shares of NYSE:BK opened at $81.95 on Thursday. The company has a market capitalization of $59.58 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 0.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50-day moving average is $78.58 and its 200-day moving average is $71.94. 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 Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. Equities research analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.29%. Bank of New York Mellon’s dividend payout ratio is 40.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BK. Barclays boosted their price objective on Bank of New York Mellon from $86.00 to $102.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Saturday, December 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley reduced 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 report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $82.64.

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.