Wealth Enhancement Advisory Services LLC Has $6.49 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Wealth Enhancement Advisory Services LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,258 shares of the bank’s stock after acquiring an additional 837 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Bank of New York Mellon were worth $6,486,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BK. DekaBank Deutsche Girozentrale increased its stake in shares of Bank of New York Mellon by 2.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 269,386 shares of the bank’s stock worth $15,987,000 after purchasing an additional 7,025 shares during the last quarter. Parallel Advisors LLC grew its stake in Bank of New York Mellon by 6.6% in the 2nd quarter. Parallel Advisors LLC now owns 12,012 shares of the bank’s stock valued at $719,000 after buying an additional 740 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $352,000. Rathbones Group PLC boosted its holdings in shares of Bank of New York Mellon by 0.4% during the second quarter. Rathbones Group PLC now owns 98,940 shares of the bank’s stock worth $5,926,000 after acquiring an additional 417 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Bank of New York Mellon by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock valued at $434,370,000 after purchasing an additional 454,151 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 0.8 %

BK stock opened at $76.04 on Tuesday. The firm has a 50-day moving average price of $78.58 and a 200-day moving average price of $71.82. The Bank of New York Mellon Co. has a 12 month low of $52.64 and a 12 month high of $82.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $55.29 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BK. Citigroup boosted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Barclays lifted their price objective on shares of Bank of New York Mellon from $86.00 to $102.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Evercore ISI increased their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Morgan Stanley cut their price target on Bank of New York Mellon from $94.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Finally, Wolfe Research lowered Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $82.64.

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.