Premier Path Wealth Partners LLC Raises Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Premier Path Wealth Partners LLC increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,044 shares of the bank’s stock after purchasing an additional 319 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Bank of New York Mellon were worth $1,770,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. United Advisor Group LLC purchased a new stake in shares of Bank of New York Mellon during the 3rd quarter worth $595,000. Czech National Bank lifted its position in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after acquiring an additional 7,316 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Bank of New York Mellon by 1.7% in the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares during the last quarter. Chase Investment Counsel Corp raised its stake in Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after buying an additional 33,558 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Bank of New York Mellon by 4.2% in the second 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 in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.3 %

Shares of Bank of New York Mellon stock opened at $83.31 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $83.67. 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 company has a market cap of $60.57 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The firm has a 50-day simple moving average of $78.74 and a two-hundred day simple moving average of $72.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, topping 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%. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.28 earnings per share. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be paid a $0.47 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a yield of 2.26%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BK. UBS Group lifted their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America raised their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley lifted their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

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.