The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 172,866 shares of the bank’s stock after buying an additional 12,656 shares during the quarter. Intech Investment Management LLC’s holdings in Bank of New York Mellon were worth $12,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stanley Laman Group Ltd. increased its position in shares of Bank of New York Mellon by 2.2% during the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after purchasing an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after purchasing an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Bank of New York Mellon by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after buying an additional 142 shares in the last quarter. Sigma Planning Corp raised its position in shares of Bank of New York Mellon by 2.7% in the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after buying an additional 143 shares during the last quarter. Finally, Grove Bank & Trust lifted its stake in shares of Bank of New York Mellon by 28.8% in the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after buying an additional 144 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 1.4 %

Shares of BK stock opened at $78.98 on Friday. The Bank of New York Mellon Co. has a 1-year low of $46.71 and a 1-year high of $80.29. The firm has a market cap of $57.42 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The company has a 50-day moving average of $74.80 and a two-hundred day moving average of $66.49. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.38%. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Analyst Ratings Changes

A number of research firms have commented on BK. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Evercore ISI raised their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $77.23.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 9.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

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.