HF Advisory Group LLC Has $347,000 Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

HF Advisory Group LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 33.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,663 shares of the bank’s stock after purchasing an additional 1,655 shares during the period. HF Advisory Group LLC’s holdings in Bank of New York Mellon were worth $347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Bank of New York Mellon by 95.1% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,539 shares of the bank’s stock worth $80,000 after buying an additional 750 shares during the period. Daiwa Securities Group Inc. increased its stake in Bank of New York Mellon by 10.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 75,900 shares of the bank’s stock valued at $3,950,000 after purchasing an additional 6,960 shares in the last quarter. Scissortail Wealth Management LLC acquired a new stake in Bank of New York Mellon in the fourth quarter worth $560,000. Tyche Wealth Partners LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter worth $428,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bank of New York Mellon by 153.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after buying an additional 941,193 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BK shares. Bank of America raised their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup upped their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. UBS Group raised their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Jefferies Financial Group raised their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has a consensus rating of “Hold” and an average price target of $59.15.

Bank of New York Mellon Stock Up 1.4 %

Shares of BK stock opened at $55.24 on Friday. The firm’s 50-day moving average is $55.74 and its 200-day moving average is $51.13. The stock has a market cap of $41.58 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.15 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 earnings per share. Sell-side analysts predict that The Bank of New York Mellon Co. will post 5.4 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

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.