My Legacy Advisors LLC Has $335,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

My Legacy Advisors LLC lifted its position in The Bank of New York Mellon Co. (NYSE:BK) by 7.9% during the 4th quarter, Holdings Channel reports. The firm owned 4,083 shares of the bank’s stock after buying an additional 298 shares during the quarter. My Legacy Advisors LLC’s holdings in Bank of New York Mellon were worth $335,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL boosted its holdings in Bank of New York Mellon by 10.7% during the second quarter. Blair William & Co. IL now owns 23,691 shares of the bank’s stock worth $1,419,000 after buying an additional 2,298 shares during the last quarter. AE Wealth Management LLC boosted its stake in Bank of New York Mellon by 10.1% during the 2nd quarter. AE Wealth Management LLC now owns 16,792 shares of the bank’s stock worth $1,006,000 after acquiring an additional 1,535 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in Bank of New York Mellon by 36.3% during the second quarter. Ensign Peak Advisors Inc now owns 145,451 shares of the bank’s stock valued at $8,711,000 after purchasing an additional 38,740 shares during the period. Symmetry Investments LP increased its stake in Bank of New York Mellon by 64.7% in the second quarter. Symmetry Investments LP now owns 10,131 shares of the bank’s stock valued at $607,000 after purchasing an additional 3,981 shares in the last quarter. Finally, Kowal Investment Group LLC raised its holdings in Bank of New York Mellon by 3.3% in the second quarter. Kowal Investment Group LLC now owns 9,010 shares of the bank’s stock worth $540,000 after purchasing an additional 291 shares during the period. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on BK. Truist Financial lifted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $82.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Evercore ISI boosted their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday. Finally, 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 report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.14.

Bank of New York Mellon Price Performance

NYSE:BK opened at $83.31 on Monday. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $83.67. The firm has a market capitalization of $60.57 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 0.76 and a beta of 1.08. The stock’s 50 day moving average price is $78.87 and its two-hundred day moving average price is $72.32. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating the consensus estimate of $1.54 by $0.18. The firm 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 net margin of 9.44% and a return on equity of 12.06%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. On average, analysts anticipate that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

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.