MML Investors Services LLC raised its stake in The Bank of New York Mellon (NYSE:BK) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,785 shares of the bank’s stock after buying an additional 1,875 shares during the period. MML Investors Services LLC’s holdings in The Bank of New York Mellon were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Wealthfront Inc. lifted its position in shares of The Bank of New York Mellon by 6.6% in the 4th quarter. Wealthfront Inc. now owns 47,762 shares of the bank’s stock worth $2,572,000 after purchasing an additional 2,974 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of The Bank of New York Mellon in the 3rd quarter worth approximately $748,000. Valeo Financial Advisors LLC lifted its position in shares of The Bank of New York Mellon by 31.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 14,191 shares of the bank’s stock worth $764,000 after purchasing an additional 3,434 shares during the period. Rothschild Asset Management Inc. bought a new position in shares of The Bank of New York Mellon during the 3rd quarter worth approximately $612,000. Finally, Taylor Hoffman Wealth Management bought a new position in shares of The Bank of New York Mellon during the 4th quarter worth approximately $144,000. 84.13% of the stock is owned by institutional investors.
Shares of NYSE BK opened at $50.35 on Friday. The stock has a market capitalization of $51,981.88, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. The Bank of New York Mellon has a 52 week low of $45.88 and a 52 week high of $58.99.
The Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.91. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $4.01 billion. The Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share. equities research analysts predict that The Bank of New York Mellon will post 4.03 EPS for the current fiscal year.
In related news, insider Bridget E. Engle sold 38,928 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $56.62, for a total transaction of $2,204,103.36. Following the completion of the sale, the insider now directly owns 68,046 shares in the company, valued at $3,852,764.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Trian Fund Management, L.P. purchased 360,000 shares of the company’s stock in a transaction on Friday, March 9th. The shares were bought at an average price of $56.67 per share, with a total value of $20,401,200.00. The disclosure for this purchase can be found here. 1.76% of the stock is currently owned by company insiders.
Several research analysts recently commented on BK shares. Barclays reiterated a “buy” rating on shares of The Bank of New York Mellon in a research note on Sunday, January 21st. JPMorgan Chase lowered shares of The Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price target on the stock. in a research note on Friday, January 19th. Vining Sparks restated a “hold” rating and set a $60.00 price target on shares of The Bank of New York Mellon in a research note on Wednesday, January 24th. Morgan Stanley upgraded shares of The Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Friday, January 19th. Finally, Goldman Sachs lowered shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Monday, March 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $57.75.
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The Bank of New York Mellon Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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