Angeles Wealth Management LLC Invests $202,000 in The Bank of New York Mellon Co. (NYSE:BK)

Angeles Wealth Management LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,630 shares of the bank’s stock, valued at approximately $202,000.

Several other hedge funds have also made changes to their positions in BK. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Bank of New York Mellon by 288.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,984 shares of the bank’s stock worth $430,000 after buying an additional 4,445 shares during the period. Valeo Financial Advisors LLC lifted its position in Bank of New York Mellon by 4.4% in the third quarter. Valeo Financial Advisors LLC now owns 8,902 shares of the bank’s stock valued at $640,000 after purchasing an additional 372 shares during the period. Ritholtz Wealth Management lifted its position in Bank of New York Mellon by 10.9% in the third quarter. Ritholtz Wealth Management now owns 27,643 shares of the bank’s stock valued at $1,986,000 after purchasing an additional 2,718 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Bank of New York Mellon in the third quarter valued at about $340,000. Finally, Grove Bank & Trust lifted its position in Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective 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. UBS Group raised 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. Wells Fargo & Company raised 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, January 16th. Finally, Truist Financial increased their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Bank of New York Mellon Stock Down 1.4 %

BK stock opened at $84.99 on Tuesday. The stock has a market capitalization of $61.79 billion, a P/E ratio of 14.63, a PEG ratio of 0.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The Bank of New York Mellon Co. has a one year low of $52.64 and a one year high of $87.70. The company has a 50 day moving average price of $80.70 and a two-hundred day moving average price of $74.83.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share 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 analyst estimates of $4.66 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $1.28 EPS. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.21%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

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.