United Advisor Group LLC Purchases 556 Shares of The Bank of New York Mellon Corporation $BK

United Advisor Group LLC grew its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,559 shares of the bank’s stock after purchasing an additional 556 shares during the quarter. United Advisor Group LLC’s holdings in Bank of New York Mellon were worth $506,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Westside Investment Management Inc. grew its holdings in Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $32,000. Hoey Investments Inc. bought a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $32,000. McClarren Financial Advisors Inc. bought a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $34,000. Finally, GFG Capital LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter worth $36,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BK. Barclays upped their target price on shares of Bank of New York Mellon from $104.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of New York Mellon in a research note on Thursday, November 13th. Finally, Truist Financial upped their price target on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.29.

Bank of New York Mellon Stock Performance

NYSE BK opened at $107.51 on Wednesday. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $113.74. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock has a market cap of $74.97 billion, a P/E ratio of 15.51, a PEG ratio of 0.98 and a beta of 1.13. The company’s 50-day simple moving average is $107.81 and its 200 day simple moving average is $99.62.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Monday, October 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon’s payout ratio is currently 30.59%.

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.