Bank of New York Mellon Corp (BK) Holdings Lifted by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. raised its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 5.5% in the fourth quarter, Holdings Channel reports. The firm owned 24,002 shares of the bank’s stock after buying an additional 1,248 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Bank of New York Mellon were worth $1,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital International Investors raised its position in Bank of New York Mellon by 120.8% during the 3rd quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock valued at $1,221,846,000 after purchasing an additional 12,607,183 shares during the last quarter. First Eagle Investment Management LLC raised its position in Bank of New York Mellon by 1.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 19,753,288 shares of the bank’s stock valued at $1,047,319,000 after purchasing an additional 271,858 shares during the last quarter. Longview Partners Guernsey LTD grew its holdings in shares of Bank of New York Mellon by 1.7% during the 4th quarter. Longview Partners Guernsey LTD now owns 17,675,284 shares of the bank’s stock worth $951,991,000 after acquiring an additional 293,300 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Bank of New York Mellon by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,046,925 shares of the bank’s stock worth $479,668,000 after acquiring an additional 128,778 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Bank of New York Mellon by 9.1% during the 4th quarter. American Century Companies Inc. now owns 6,557,953 shares of the bank’s stock worth $353,211,000 after acquiring an additional 549,519 shares during the period. 83.71% of the stock is owned by institutional investors and hedge funds.

Shares of Bank of New York Mellon Corp (NYSE BK) opened at $56.42 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.69. The firm has a market capitalization of $57,006.11, a P/E ratio of 15.58, a P/E/G ratio of 1.79 and a beta of 1.21. Bank of New York Mellon Corp has a 52 week low of $45.12 and a 52 week high of $58.99.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, hitting the consensus estimate of $0.91. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 EPS. analysts forecast that Bank of New York Mellon Corp will post 4.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Tuesday, January 30th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. Bank of New York Mellon’s payout ratio is currently 25.74%.

In related news, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $54.15, for a total value of $2,065,930.80. Following the sale, the chief financial officer now owns 310,002 shares in the company, valued at approximately $16,786,608.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.60% of the company’s stock.

BK has been the topic of a number of research analyst reports. Barclays upped their target price on Bank of New York Mellon from $55.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, November 15th. Sandler O’Neill reiterated a “hold” rating and set a $58.00 target price on shares of Bank of New York Mellon in a report on Friday, January 19th. JPMorgan Chase & Co. downgraded Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 target price on the stock. in a report on Friday, January 19th. Finally, Vining Sparks reiterated a “buy” rating and set a $62.00 target price on shares of Bank of New York Mellon in a report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Bank of New York Mellon has a consensus rating of “Hold” and a consensus target price of $56.76.

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About Bank of New York Mellon

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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