Sage Mountain Advisors LLC Has $407,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Sage Mountain Advisors LLC lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,300 shares of the bank’s stock after selling 225 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Bank of New York Mellon were worth $407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $39,000. Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at about $46,000. Modus Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $49,000. Friedenthal Financial bought a new position in Bank of New York Mellon during the fourth quarter worth about $56,000. Finally, Asset Dedication LLC increased its position in Bank of New York Mellon by 342.1% during the fourth quarter. Asset Dedication LLC now owns 756 shares of the bank’s stock worth $58,000 after buying an additional 585 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Down 3.8 %

Shares of NYSE BK opened at $81.04 on Wednesday. The stock has a market capitalization of $58.18 billion, a P/E ratio of 13.95, a PEG ratio of 0.97 and a beta of 1.06. The stock’s fifty day moving average is $84.08 and its 200 day moving average is $78.27. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last released its earnings results 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 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the firm earned $1.28 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Monday, January 27th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s payout ratio is presently 32.36%.

Analyst Upgrades and Downgrades

BK has been the subject of several research analyst reports. Truist Financial lifted their target price on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Barclays lifted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.71.

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.