Kovitz Investment Group Partners LLC Acquires 26,485 Shares of The Bank of New York Mellon Corporation $BK

Kovitz Investment Group Partners LLC grew its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 317,617 shares of the bank’s stock after buying an additional 26,485 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Bank of New York Mellon were worth $34,607,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alteri Wealth LLC raised its position in Bank of New York Mellon by 4.1% during the third quarter. Alteri Wealth LLC now owns 4,854 shares of the bank’s stock valued at $529,000 after purchasing an additional 190 shares during the period. Koshinski Asset Management Inc. boosted its holdings in shares of Bank of New York Mellon by 105.6% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,718 shares of the bank’s stock worth $514,000 after purchasing an additional 2,423 shares during the period. Vestmark Advisory Solutions Inc. increased its position in shares of Bank of New York Mellon by 286.4% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 10,707 shares of the bank’s stock valued at $1,167,000 after purchasing an additional 7,936 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Bank of New York Mellon by 51.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 22,871 shares of the bank’s stock valued at $2,492,000 after buying an additional 7,775 shares during the period. Finally, OneDigital Investment Advisors LLC raised its holdings in Bank of New York Mellon by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 24,797 shares of the bank’s stock valued at $2,702,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.0%

NYSE BK opened at $118.16 on Monday. The company’s 50-day moving average price is $119.33 and its 200-day moving average price is $111.71. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The stock has a market cap of $82.40 billion, a PE ratio of 15.95, a PEG ratio of 1.10 and a beta of 1.10. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $128.76.

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

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a $0.53 dividend. The ex-dividend date 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 payout ratio is presently 28.61%.

Wall Street Analyst Weigh In

Several research firms have commented on BK. Citigroup lifted their price objective on shares of Bank of New York Mellon from $120.00 to $136.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Barclays increased their target price on shares of Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $132.00 to $143.00 and gave the stock an “outperform” rating in a research note 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 report on Friday, February 13th. Finally, New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $131.92.

Bank of New York Mellon 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.