RPg Family Wealth Advisory LLC Has $9.07 Million Holdings in The Bank of New York Mellon Corporation $BK

RPg Family Wealth Advisory LLC lifted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 43.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,209 shares of the bank’s stock after buying an additional 25,295 shares during the quarter. Bank of New York Mellon comprises approximately 2.0% of RPg Family Wealth Advisory LLC’s investment portfolio, making the stock its 13th largest holding. RPg Family Wealth Advisory LLC’s holdings in Bank of New York Mellon were worth $9,066,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. increased its stake in Bank of New York Mellon by 78.9% in the second quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $33,000. Caldwell Trust Co acquired a new position in Bank of New York Mellon during the 2nd quarter worth approximately $36,000. Dunhill Financial LLC boosted its holdings in Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price target for the company from $119.00 to $134.00 in a research report on Wednesday, January 7th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Weiss Ratings lowered Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 13th. Barclays raised their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $132.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $118.01 on Wednesday. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $128.76. The company’s 50-day moving average is $119.74 and its 200 day moving average is $112.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $81.06 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The firm had revenue of $5.07 billion during the quarter. On average, 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, January 23rd. Bank of New York Mellon’s payout ratio is currently 28.61%.

Bank of New York Mellon Company 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.