Cerity Partners LLC Has $4.58 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Cerity Partners LLC grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,935 shares of the bank’s stock after acquiring an additional 7,953 shares during the period. Cerity Partners LLC’s holdings in Bank of New York Mellon were worth $4,578,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BK. FMR LLC increased its holdings in Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Bank of New York Mellon by 117.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 19,249 shares of the bank’s stock worth $1,479,000 after acquiring an additional 10,408 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in Bank of New York Mellon by 1.1% in the fourth quarter. Peapack Gladstone Financial Corp now owns 27,579 shares of the bank’s stock valued at $2,119,000 after purchasing an additional 298 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of Bank of New York Mellon by 7.7% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 210,000 shares of the bank’s stock valued at $16,134,000 after purchasing an additional 15,000 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Bank of New York Mellon by 8.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,263,897 shares of the bank’s stock worth $173,935,000 after purchasing an additional 171,876 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 1.5 %

BK stock opened at $77.75 on Friday. The Bank of New York Mellon Co. has a 1-year low of $52.64 and a 1-year high of $90.34. The stock has a market cap of $55.82 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.97 and a beta of 1.03. The stock’s fifty day simple moving average is $83.63 and its two-hundred day simple moving average is $80.18. 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 posted its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. During the same quarter in the prior year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BK. Deutsche Bank Aktiengesellschaft upped their price target 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. Morgan Stanley cut their target price on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. UBS Group raised their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Citigroup boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.86.

About Bank of New York Mellon

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.