Spire Wealth Management Has $653,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Spire Wealth Management grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 163.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,494 shares of the bank's stock after buying an additional 5,270 shares during the period. Spire Wealth Management's holdings in Bank of New York Mellon were worth $653,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. FMR LLC grew its stake in shares of Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank's stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Bank of New York Mellon by 2,707.1% during the third quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank's stock valued at $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Zacks Investment Management bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $62,589,000. State Street Corp grew its stake in shares of Bank of New York Mellon by 2.0% during the third quarter. State Street Corp now owns 33,313,594 shares of the bank's stock valued at $2,393,915,000 after purchasing an additional 659,096 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Bank of New York Mellon by 248.3% during the third quarter. National Bank of Canada FI now owns 858,831 shares of the bank's stock valued at $61,715,000 after purchasing an additional 612,287 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $79.00 to $83.00 and gave the company an "in-line" rating in a research note on Thursday, January 16th. Bank of America raised their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Truist Financial raised their price objective on shares of Bank of New York Mellon from $91.00 to $93.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Finally, Citigroup raised their price objective on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

Bank of New York Mellon Stock Performance

Shares of BK stock traded down $0.25 during midday trading on Friday, hitting $86.15. 3,438,147 shares of the company were exchanged, compared to its average volume of 3,879,773. 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 firm has a market capitalization of $62.64 billion, a P/E ratio of 14.83, a PEG ratio of 0.98 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $87.70. The firm's 50 day moving average price is $80.70 and its two-hundred day moving average price is $74.75.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The bank reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. The firm 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 net margin of 11.35% and a return on equity of 12.68%. The business's revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 6.89 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, January 27th. Bank of New York Mellon's payout ratio is presently 32.36%.

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.