Bleakley Financial Group LLC Purchases 7,775 Shares of The Bank of New York Mellon Corporation $BK

Bleakley Financial Group LLC lifted its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 51.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,871 shares of the bank’s stock after buying an additional 7,775 shares during the period. Bleakley Financial Group LLC’s holdings in Bank of New York Mellon were worth $2,492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BK. OneDigital Investment Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 1.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 24,797 shares of the bank’s stock worth $2,702,000 after acquiring an additional 283 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ raised its position in Bank of New York Mellon by 3.0% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 225,457 shares of the bank’s stock worth $24,566,000 after purchasing an additional 6,468 shares during the period. Siligmueller & Norvid Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the third quarter worth $226,000. Personal CFO Solutions LLC boosted its position in Bank of New York Mellon by 5.0% during the third quarter. Personal CFO Solutions LLC now owns 4,395 shares of the bank’s stock valued at $479,000 after buying an additional 210 shares during the period. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Bank of New York Mellon by 5.6% during the third quarter. Hillsdale Investment Management Inc. now owns 9,400 shares of the bank’s stock valued at $1,024,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, January 14th. Royal Bank Of Canada raised their target price on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 13th. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Finally, Citigroup started coverage on shares of Bank of New York Mellon in a report on Monday. They issued a “neutral” rating on the stock. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon Price Performance

BK stock opened at $115.42 on Tuesday. The Bank of New York Mellon Corporation has a 52-week low of $70.46 and a 52-week high of $128.76. The firm has a market capitalization of $80.49 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.10 and a beta of 1.10. The firm has a 50 day moving average price of $119.30 and a 200-day moving average price of $111.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71.

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

Bank of New York Mellon Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Bank of New York Mellon Company Profile

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.