CGN Advisors LLC Has $2.63 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

CGN Advisors LLC reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,264 shares of the bank’s stock after selling 2,515 shares during the quarter. CGN Advisors LLC’s holdings in Bank of New York Mellon were worth $2,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BK. McClarren Financial Advisors Inc. raised its stake in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the period. Fortitude Family Office LLC increased its position in shares of Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares in the last quarter. Modus Advisors LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at $49,000. Ashton Thomas Securities LLC acquired a new position in Bank of New York Mellon in the 3rd quarter worth $46,000. Finally, Grove Bank & Trust increased its holdings in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after purchasing an additional 144 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

NYSE BK opened at $83.31 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market cap of $60.57 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $83.67. The firm’s 50-day simple moving average is $78.74 and its two-hundred day simple moving average is $72.08.

Bank of New York Mellon (NYSE:BK) last issued 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. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company earned $1.28 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. Research analysts predict that The Bank of New York Mellon Co. will post 5.87 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BK shares. Truist Financial boosted their price target on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Citigroup raised their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Morgan Stanley raised their price objective on Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.14.

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.