PUREfi Wealth LLC Buys Shares of 3,210 The Bank of New York Mellon Co. (NYSE:BK)

PUREfi Wealth LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,210 shares of the bank’s stock, valued at approximately $247,000.

Other large investors also recently added to or reduced their stakes in the company. United Advisor Group LLC acquired a new position in Bank of New York Mellon during the 3rd quarter valued at about $595,000. Czech National Bank raised its position in shares of Bank of New York Mellon by 4.9% in the 4th 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 period. Principal Financial Group Inc. raised its position in shares of Bank of New York Mellon by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after acquiring an additional 14,916 shares during the period. Chase Investment Counsel Corp raised its position in shares of Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank’s stock valued at $6,002,000 after acquiring an additional 33,558 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Bank of New York Mellon by 130.1% in the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank’s stock valued at $23,449,000 after acquiring an additional 184,560 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 1.2 %

BK opened at $87.94 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 $88.25. 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 company has a market capitalization of $63.94 billion, a P/E ratio of 15.14, a P/E/G ratio of 0.98 and a beta of 1.08. The stock has a fifty day moving average of $81.23 and a 200-day moving average of $75.43.

Bank of New York Mellon (NYSE:BK) last issued its quarterly 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 return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the business earned $1.28 earnings per share. Bank of New York Mellon’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that The Bank of New York Mellon Co. will post 6.89 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup increased their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Barclays increased their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI increased their target price on Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on 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. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

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.