Burney Co. Reduces Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Burney Co. lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.7% in the 4th quarter, HoldingsChannel reports. The fund owned 77,288 shares of the bank’s stock after selling 2,184 shares during the period. Burney Co.’s holdings in Bank of New York Mellon were worth $5,938,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BK. Studio Investment Management LLC increased its stake in shares of Bank of New York Mellon by 2.1% in the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after purchasing an additional 134 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in 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 buying an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after acquiring an additional 137 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of Bank of New York Mellon by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after acquiring an additional 142 shares in the last quarter. Finally, Sigma Planning Corp boosted its holdings in shares of Bank of New York Mellon by 2.7% in the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock worth $393,000 after acquiring an additional 143 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BK has been the topic of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Saturday, December 14th. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods boosted 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. Five 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.64.

Bank of New York Mellon Stock Up 6.1 %

Shares of NYSE:BK opened at $80.60 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 firm has a fifty day moving average of $78.58 and a 200 day moving average of $71.94. The Bank of New York Mellon Co. has a 52-week low of $52.64 and a 52-week high of $82.72. The firm has a market capitalization of $58.60 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data 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 firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.33%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

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.