Asset Dedication LLC Has $58,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Asset Dedication LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 342.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 756 shares of the bank’s stock after purchasing an additional 585 shares during the quarter. Asset Dedication LLC’s holdings in Bank of New York Mellon were worth $58,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in Bank of New York Mellon by 2.0% during the third 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 in the last quarter. FMR LLC raised its holdings in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Bank of New York Mellon by 1.8% in 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 purchasing an additional 117,974 shares during the last quarter. Wellington Management Group LLP grew its holdings in Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock worth $234,189,000 after purchasing an additional 3,142,869 shares during the period. Finally, Franklin Resources Inc. increased its position in Bank of New York Mellon by 8.3% during the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank’s stock worth $172,348,000 after buying an additional 173,347 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Evercore ISI raised their price target on Bank of New York Mellon from $79.00 to $83.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. UBS Group upped their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Bank of New York Mellon Stock Up 0.6 %

NYSE BK opened at $86.54 on Friday. The Bank of New York Mellon Co. has a fifty-two week low of $52.64 and a fifty-two week high of $87.70. The business has a fifty day moving average price of $80.02 and a two-hundred day moving average price of $73.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a market capitalization of $62.92 billion, a PE ratio of 14.90, a PEG ratio of 0.96 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.18. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. Equities analysts expect that The Bank of New York Mellon Co. will post 6.86 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Monday, January 27th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.36%.

About Bank of New York Mellon

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.