RPg Family Wealth Advisory LLC Trims Stock Position in The Bank of New York Mellon Corporation $BK

RPg Family Wealth Advisory LLC reduced its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 45.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,914 shares of the bank’s stock after selling 47,351 shares during the quarter. Bank of New York Mellon accounts for 1.4% of RPg Family Wealth Advisory LLC’s investment portfolio, making the stock its 26th biggest holding. RPg Family Wealth Advisory LLC’s holdings in Bank of New York Mellon were worth $5,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. increased its stake 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 period. Orion Capital Management LLC purchased a new position in Bank of New York Mellon during the first quarter worth about $32,000. Hoey Investments Inc. acquired a new stake in Bank of New York Mellon in the second quarter valued at about $32,000. McClarren Financial Advisors Inc. purchased a new stake in Bank of New York Mellon in the 1st quarter valued at approximately $34,000. Finally, GFG Capital LLC acquired a new position in Bank of New York Mellon during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BK shares. Wells Fargo & Company lifted their price target on 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. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Citigroup upped their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. TD Cowen boosted their price target on Bank of New York Mellon from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $112.13 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.70. The business’s fifty day moving average price is $108.34 and its two-hundred day moving average price is $101.27. The stock has a market cap of $78.19 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.01 and a beta of 1.12. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $113.74.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%.The business had revenue of $4.38 billion for the quarter. On average, analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Monday, October 27th were issued a $0.53 dividend. The ex-dividend date was Monday, October 27th. This represents a $2.12 annualized dividend and a yield of 1.9%. Bank of New York Mellon’s payout ratio is 30.59%.

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.