Bruce G. Allen Investments LLC Buys 256 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Bruce G. Allen Investments LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,278 shares of the bank’s stock after acquiring an additional 256 shares during the period. Bruce G. Allen Investments LLC’s holdings in Bank of New York Mellon were worth $329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Studio Investment Management LLC grew its holdings in shares of Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock valued at $477,000 after acquiring an additional 134 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after buying an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in 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 acquiring an additional 142 shares in the last quarter. Finally, Sigma Planning Corp lifted its stake in 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 acquiring an additional 143 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE BK traded down $2.27 during trading hours on Friday, hitting $75.68. 2,133,133 shares of the stock were exchanged, compared to its average volume of 3,254,262. The Bank of New York Mellon Co. has a 1-year low of $52.21 and a 1-year high of $82.72. The company has a market cap of $55.03 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The company’s fifty day simple moving average is $78.55 and its two-hundred day simple moving average is $71.42.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data 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 business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the business’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 transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, January 2nd. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. UBS Group increased their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Five analysts have rated the stock with a hold rating and eleven 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 $82.64.

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.