Axxcess Wealth Management LLC Raises Position in The Bank of New York Mellon Co. (NYSE:BK)

Axxcess Wealth Management LLC raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 69.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,436 shares of the bank’s stock after acquiring an additional 7,584 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its stake in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after acquiring an additional 659,096 shares during the last quarter. FMR LLC lifted its stake in shares of Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares in the last quarter. Amundi lifted its stake in shares of Bank of New York Mellon by 5.1% during the 4th quarter. Amundi now owns 7,363,015 shares of the bank’s stock valued at $573,947,000 after buying an additional 359,942 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Bank of New York Mellon by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,634,088 shares of the bank’s stock valued at $476,726,000 after buying an additional 117,974 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after buying an additional 3,142,869 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $83.95 on Thursday. The company’s 50-day moving average price is $84.60 and its 200-day moving average price is $78.80. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market cap of $60.27 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BK. Wolfe Research cut shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Truist Financial lifted their target price on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Bank of America lifted their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Evercore ISI boosted their price target on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.50.

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.