The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Covestor Ltd

Covestor Ltd increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 216.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,297 shares of the bank’s stock after purchasing an additional 887 shares during the period. Covestor Ltd’s holdings in Bank of New York Mellon were worth $93,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BK. Empowered Funds LLC increased its position in Bank of New York Mellon by 28.1% in the 1st quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock valued at $612,000 after acquiring an additional 2,328 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Bank of New York Mellon by 13.2% in the first quarter. Atomi Financial Group Inc. now owns 5,372 shares of the bank’s stock valued at $310,000 after purchasing an additional 625 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Bank of New York Mellon by 7.9% during the first quarter. Concurrent Investment Advisors LLC now owns 7,469 shares of the bank’s stock worth $430,000 after purchasing an additional 548 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Bank of New York Mellon during the first quarter worth $155,000. Finally, US Bancorp DE increased its stake in Bank of New York Mellon by 3.5% in the 1st quarter. US Bancorp DE now owns 209,104 shares of the bank’s stock valued at $12,049,000 after buying an additional 7,115 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BK shares. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Monday. UBS Group boosted their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Citigroup raised their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley increased their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.08.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s 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 owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 0.9 %

Bank of New York Mellon stock opened at $77.94 on Wednesday. The stock has a 50-day moving average price of $73.16 and a 200 day moving average price of $65.43. The Bank of New York Mellon Co. has a 52 week low of $45.22 and a 52 week high of $80.29. The stock has a market cap of $56.67 billion, a PE ratio of 16.94, a P/E/G ratio of 0.90 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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. The business had revenue of $4.65 billion for 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%. Equities research analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

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.