Envestnet Asset Management Inc. Raises Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Envestnet Asset Management Inc. increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,263,897 shares of the bank’s stock after purchasing an additional 171,876 shares during the period. Envestnet Asset Management Inc. owned 0.31% of Bank of New York Mellon worth $173,935,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $35,000. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth $39,000. TCTC Holdings LLC lifted its holdings in Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock worth $46,000 after buying an additional 430 shares in the last quarter. Modus Advisors LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at about $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $56,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 8.4 %

NYSE:BK opened at $73.17 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average of $84.98 and a 200-day moving average of $80.08. The firm has a market capitalization of $52.53 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34.

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, 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 firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the business earned $1.28 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.57%. Bank of New York Mellon’s dividend payout ratio is presently 32.36%.

Analysts Set New Price Targets

Several research analysts recently commented on BK shares. UBS Group boosted their price target 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. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Finally, Morgan Stanley decreased their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.86.

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.