Aaron Wealth Advisors LLC Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Aaron Wealth Advisors LLC lifted its position in The Bank of New York Mellon Co. (NYSE:BK) by 41.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,879 shares of the bank’s stock after purchasing an additional 2,324 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Bank of New York Mellon were worth $566,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Entropy Technologies LP purchased a new position in shares of Bank of New York Mellon in the first quarter worth about $1,027,000. QRG Capital Management Inc. raised its stake in shares of Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after purchasing an additional 8,204 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in shares of Bank of New York Mellon in the first quarter worth about $3,740,000. Bessemer Group Inc. raised its stake in shares of Bank of New York Mellon by 128.8% in the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock worth $1,771,000 after purchasing an additional 17,312 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BK. Citigroup raised their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $80.00 in a report on Monday, September 23rd. Wells Fargo & Company raised their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

Bank of New York Mellon Stock Down 1.4 %

Shares of BK opened at $76.67 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12 month low of $41.15 and a 12 month high of $78.03. The stock’s 50 day moving average is $69.81 and its two-hundred day moving average is $63.07. The firm has a market cap of $57.34 billion, a P/E ratio of 17.75, a PEG ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.45%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Bank of New York Mellon 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.