Aspen Investment Management Inc Grows Stake in The Bank of New York Mellon Co. (NYSE:BK)

Aspen Investment Management Inc boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,750 shares of the bank’s stock after acquiring an additional 160 shares during the quarter. Aspen Investment Management Inc’s holdings in Bank of New York Mellon were worth $903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parcion Private Wealth LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $204,000. Concurrent Investment Advisors LLC lifted its stake in Bank of New York Mellon by 465.3% in the fourth quarter. Concurrent Investment Advisors LLC now owns 40,756 shares of the bank’s stock worth $3,131,000 after purchasing an additional 33,546 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Bank of New York Mellon by 21.3% during the fourth quarter. Handelsbanken Fonder AB now owns 338,747 shares of the bank’s stock valued at $26,026,000 after buying an additional 59,418 shares during the period. Ieq Capital LLC grew its stake in shares of Bank of New York Mellon by 12.4% during the fourth quarter. Ieq Capital LLC now owns 33,429 shares of the bank’s stock valued at $2,568,000 after buying an additional 3,696 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Bank of New York Mellon by 0.9% in the fourth quarter. Private Advisor Group LLC now owns 54,114 shares of the bank’s stock worth $4,158,000 after buying an additional 468 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. UBS Group boosted their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Evercore ISI raised their target price on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Down 1.3 %

Shares of NYSE BK opened at $87.20 on Friday. The stock has a market capitalization of $63.40 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.01 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $89.44. The stock’s fifty day simple moving average is $81.87 and its two-hundred day simple moving average is $76.08.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. As a group, analysts expect that The Bank of New York Mellon Co. will post 6.93 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.16%. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.36%.

About Bank of New York Mellon

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.