Advisors Asset Management Inc. Has $4.45 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Advisors Asset Management Inc. grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 33.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 61,988 shares of the bank’s stock after buying an additional 15,419 shares during the period. Advisors Asset Management Inc.’s holdings in Bank of New York Mellon were worth $4,454,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. raised its position in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares during the period. Olistico Wealth LLC bought a new position in Bank of New York Mellon in the second quarter valued at approximately $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth $32,000. Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon during the second quarter worth $40,000. Finally, Fortitude Family Office LLC lifted its position in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after acquiring an additional 346 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction 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 directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 9.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of several recent research reports. Citigroup lifted their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Barclays raised their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Evercore ISI boosted their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.23.

Bank of New York Mellon Stock Performance

BK opened at $80.14 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 12-month low of $46.81 and a 12-month high of $80.29. The business has a 50 day moving average of $75.03 and a 200-day moving average of $66.64. The stock has a market cap of $58.27 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.89 and a beta of 1.07.

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

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

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.