Envestnet Portfolio Solutions Inc. Increases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Envestnet Portfolio Solutions Inc. increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,892 shares of the bank’s stock after buying an additional 7,863 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Bank of New York Mellon were worth $4,525,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after acquiring an additional 17,457 shares during the last quarter. Picton Mahoney Asset Management increased its stake in Bank of New York Mellon by 20.0% during the fourth quarter. Picton Mahoney Asset Management now owns 1,200 shares of the bank’s stock worth $92,000 after acquiring an additional 200 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Bank of New York Mellon by 2.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 162,376 shares of the bank’s stock worth $12,475,000 after acquiring an additional 4,200 shares during the last quarter. PGGM Investments increased its stake in Bank of New York Mellon by 3.9% during the fourth quarter. PGGM Investments now owns 200,252 shares of the bank’s stock worth $15,385,000 after acquiring an additional 7,455 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Bank of New York Mellon by 0.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 620,730 shares of the bank’s stock worth $47,864,000 after acquiring an additional 2,319 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BK shares. UBS Group raised their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Morgan Stanley raised their target price on Bank of New York Mellon from $90.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. StockNews.com cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Barclays lifted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Bank of New York Mellon Trading Up 0.2 %

NYSE:BK opened at $82.62 on Wednesday. The firm has a market cap of $59.32 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The stock has a fifty day moving average price of $84.48 and a 200 day moving average price of $78.76. The Bank of New York Mellon Co. has a 12-month low of $52.64 and a 12-month high of $90.34. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $1.28 earnings per share. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.