AE Wealth Management LLC Has $1.01 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

AE Wealth Management LLC boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,792 shares of the bank’s stock after purchasing an additional 1,535 shares during the period. AE Wealth Management LLC’s holdings in Bank of New York Mellon were worth $1,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BK. Gilbert & Cook Inc. grew its stake in Bank of New York Mellon by 4.7% in the fourth quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock valued at $487,000 after purchasing an additional 419 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Bank of New York Mellon by 18.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 45,047 shares of the bank’s stock worth $2,374,000 after purchasing an additional 7,096 shares in the last quarter. Hilltop Holdings Inc. bought a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $251,000. United Services Automobile Association boosted its stake in shares of Bank of New York Mellon by 6.9% in the fourth quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after buying an additional 1,640 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Bank of New York Mellon by 0.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 71,662 shares of the bank’s stock valued at $3,730,000 after buying an additional 544 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $80.00 in a report on Monday. Barclays boosted their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI increased their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.86.

Bank of New York Mellon Stock Performance

NYSE BK opened at $71.82 on Wednesday. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $73.19. The stock has a market cap of $53.71 billion, a PE ratio of 16.63, a PEG ratio of 1.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s fifty day moving average price is $66.24 and its two-hundred day moving average price is $60.95.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the previous year, the company posted $1.38 EPS. Bank of New York Mellon’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that The Bank of New York Mellon Co. will post 5.63 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Bank of New York Mellon 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.