RPg Family Wealth Advisory LLC Acquires 25,295 Shares of The Bank of New York Mellon Corporation $BK

RPg Family Wealth Advisory LLC lifted its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 43.7% in the third quarter, Holdings Channel.com reports. The fund owned 83,209 shares of the bank’s stock after purchasing an additional 25,295 shares during the period. Bank of New York Mellon makes up approximately 2.0% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 13th biggest position. RPg Family Wealth Advisory LLC’s holdings in Bank of New York Mellon were worth $9,066,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its holdings in Bank of New York Mellon by 1.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock worth $821,000 after purchasing an additional 94 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its position in shares of Bank of New York Mellon by 0.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after buying an additional 96 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. lifted its holdings in shares of Bank of New York Mellon by 1.9% in the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after buying an additional 98 shares in the last quarter. Tiemann Investment Advisors LLC grew its stake in Bank of New York Mellon by 2.9% during the second quarter. Tiemann Investment Advisors LLC now owns 3,492 shares of the bank’s stock valued at $318,000 after acquiring an additional 100 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Bank of New York Mellon by 13.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 828 shares of the bank’s stock valued at $75,000 after purchasing an additional 100 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

BK opened at $118.01 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s 50 day simple moving average is $119.74 and its 200 day simple moving average is $112.50. The firm has a market cap of $81.06 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.12 and a beta of 1.10. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%.The firm had revenue of $5.07 billion during the quarter. As a group, analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BK. Barclays lifted their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $119.00 to $122.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. TD Cowen raised their price objective on shares of 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. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, January 14th. Finally, New Street Research set a $143.00 target price on Bank of New York Mellon in a research note 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 presently has a consensus rating of “Moderate Buy” and an average target price of $131.92.

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.