Wealth Enhancement Advisory Services LLC Has $35.88 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Wealth Enhancement Advisory Services LLC increased its position in The Bank of New York Mellon Corporation (NYSE:BK) by 76.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 335,522 shares of the bank’s stock after buying an additional 144,869 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bank of New York Mellon were worth $35,877,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Investment Management Corp of Ontario increased its stake in Bank of New York Mellon by 25.9% during the second quarter. Investment Management Corp of Ontario now owns 125,506 shares of the bank’s stock valued at $11,435,000 after acquiring an additional 25,842 shares during the period. First National Advisers LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at $3,304,000. Permanent Capital Management LP acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at $2,262,000. First Horizon Corp bought a new stake in shares of Bank of New York Mellon in the 3rd quarter worth about $22,072,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Bank of New York Mellon by 36.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,166,052 shares of the bank’s stock worth $236,013,000 after purchasing an additional 577,621 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BK. Barclays upped their price objective on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Morgan Stanley raised their target price on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. TD Cowen increased their price objective on Bank of New York Mellon from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $121.02 on Wednesday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $125.89. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $84.39 billion, a P/E ratio of 16.33, a PEG ratio of 1.13 and a beta of 1.11. The business has a 50-day moving average of $115.46 and a 200-day moving average of $108.15.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, equities analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd will be issued a $0.53 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $2.12 annualized dividend and a yield of 1.8%. Bank of New York Mellon’s payout ratio is currently 28.61%.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.