Kestra Private Wealth Services LLC Grows Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Kestra Private Wealth Services LLC grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,059 shares of the bank’s stock after acquiring an additional 241 shares during the period. Kestra Private Wealth Services LLC’s holdings in Bank of New York Mellon were worth $419,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in BK. Commonwealth Equity Services LLC raised its stake in shares of Bank of New York Mellon by 1.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 190,074 shares of the bank’s stock valued at $8,107,000 after acquiring an additional 1,905 shares during the period. Raymond James & Associates raised its stake in shares of Bank of New York Mellon by 5.9% in the 3rd quarter. Raymond James & Associates now owns 470,999 shares of the bank’s stock valued at $20,088,000 after acquiring an additional 26,219 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Bank of New York Mellon by 1.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 22,285 shares of the bank’s stock valued at $950,000 after acquiring an additional 301 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Bank of New York Mellon by 5.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 175,287 shares of the bank’s stock valued at $7,476,000 after acquiring an additional 9,436 shares during the period. Finally, Advisor Partners II LLC increased its stake in Bank of New York Mellon by 5.0% during the 3rd quarter. Advisor Partners II LLC now owns 29,559 shares of the bank’s stock worth $1,261,000 after buying an additional 1,412 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BK shares. Citigroup upped their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Jefferies Financial Group upped their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. UBS Group upped their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, Bank of America upped their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Trading Up 0.8 %

NYSE BK opened at $57.48 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28. The stock has a market capitalization of $43.27 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. The firm has a 50 day moving average of $56.21 and a two-hundred day moving average of $52.53.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts expect that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,568 shares of company stock worth $5,459,897. Corporate insiders own 0.14% of the company’s stock.

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.