AE Wealth Management LLC Acquires 2,066 Shares of The Bank of New York Mellon Corporation $BK

AE Wealth Management LLC lifted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 11.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,414 shares of the bank’s stock after purchasing an additional 2,066 shares during the period. AE Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,769,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BK. Westside Investment Management Inc. grew its stake in Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Bank of New York Mellon during the first quarter valued at approximately $32,000. Hoey Investments Inc. purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $32,000. McClarren Financial Advisors Inc. bought a new position in Bank of New York Mellon in the first quarter worth approximately $34,000. Finally, GFG Capital LLC bought a new position in Bank of New York Mellon in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BK shares. Citigroup upped their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Barclays lifted their price objective on Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Truist Financial upped their price objective on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. TD Cowen raised their target price on shares of Bank of New York Mellon from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Finally, The Goldman Sachs Group boosted their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $111.29.

Bank of New York Mellon Trading Up 0.2%

NYSE BK opened at $111.23 on Wednesday. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $111.94. The company has a 50 day moving average price of $107.29 and a 200 day moving average price of $98.59. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $77.57 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. The business had revenue of $4.38 billion for the quarter. As a group, sell-side analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a dividend of $0.53 per share. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.9%. Bank of New York Mellon’s dividend payout ratio is 30.59%.

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.