Carret Asset Management LLC Has $1.21 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Carret Asset Management LLC lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,401 shares of the bank’s stock after buying an additional 820 shares during the period. Carret Asset Management LLC’s holdings in Bank of New York Mellon were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Cantor Fitzgerald Investment Advisor L.P lifted its stake in Bank of New York Mellon by 97.0% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 301,692 shares of the bank’s stock valued at $14,973,000 after acquiring an additional 148,530 shares in the last quarter. CAPROCK Group Inc. increased its holdings in Bank of New York Mellon by 25.2% during the 1st quarter. CAPROCK Group Inc. now owns 20,883 shares of the bank’s stock worth $1,036,000 after acquiring an additional 4,199 shares during the period. NuWave Investment Management LLC bought a new position in shares of Bank of New York Mellon in the 1st quarter worth $220,000. Icapital Wealth LLC bought a new position in shares of Bank of New York Mellon during the 1st quarter valued at $94,000. Finally, CHICAGO TRUST Co NA boosted its position in Bank of New York Mellon by 8.2% during the 1st quarter. CHICAGO TRUST Co NA now owns 10,609 shares of the bank’s stock valued at $527,000 after buying an additional 804 shares during the period. 83.69% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on BK. The Goldman Sachs Group reduced their price target on shares of Bank of New York Mellon from $60.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 19th. StockNews.com began coverage on shares of Bank of New York Mellon in a report on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group cut their price objective on shares of Bank of New York Mellon from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 21st. JPMorgan Chase & Co. lowered shares of Bank of New York Mellon from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $59.00 to $51.50 in a report on Wednesday, April 27th. Finally, Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating and set a $55.00 price objective on the stock. in a report on Thursday, March 31st. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.38.

BK opened at $42.23 on Thursday. The Bank of New York Mellon Co. has a fifty-two week low of $40.26 and a fifty-two week high of $64.63. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.68. The company has a fifty day moving average of $44.10 and a two-hundred day moving average of $51.99. The stock has a market capitalization of $34.11 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.60 and a beta of 1.14.

Bank of New York Mellon (NYSE:BKGet Rating) last released its quarterly earnings data on Monday, April 18th. The bank reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.86. Bank of New York Mellon had a net margin of 22.31% and a return on equity of 9.33%. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 4.41 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 11th. Shareholders of record on Thursday, April 28th were issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, April 27th. This represents a $1.36 dividend on an annualized basis and a yield of 3.22%. Bank of New York Mellon’s payout ratio is 33.66%.

Bank of New York Mellon Profile (Get Rating)

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, prime brokerage, and data analytics.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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