Dorsey Wright & Associates Takes $6.51 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Dorsey Wright & Associates acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 84,761 shares of the bank's stock, valued at approximately $6,512,000. Bank of New York Mellon accounts for 1.6% of Dorsey Wright & Associates' investment portfolio, making the stock its 14th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the business. Graney & King LLC purchased a new position in Bank of New York Mellon in the fourth quarter valued at about $35,000. Centricity Wealth Management LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $39,000. TCTC Holdings LLC grew its position in Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after acquiring an additional 430 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $49,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $56,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 3.3 %

Shares of NYSE BK traded down $2.76 during mid-day trading on Thursday, reaching $81.46. The company had a trading volume of 1,705,979 shares, compared to its average volume of 3,894,698. The stock has a market capitalization of $58.49 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a twelve month low of $52.64 and a twelve month high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock's 50 day moving average is $85.33 and its 200-day moving average is $79.94.

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Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business's quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $1.28 EPS. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon's dividend payout ratio is presently 32.36%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Barclays boosted their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.07.

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.