Foundations Investment Advisors LLC Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Foundations Investment Advisors LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,302 shares of the bank’s stock after purchasing an additional 909 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $668,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BK. Entropy Technologies LP acquired a new position in Bank of New York Mellon in the 1st quarter valued at $1,027,000. QRG Capital Management Inc. grew its holdings in shares of Bank of New York Mellon by 6.9% during the 1st 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 period. Wakefield Asset Management LLLP acquired a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $3,740,000. Bessemer Group Inc. boosted its position in shares of Bank of New York Mellon by 128.8% during the 1st 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 period. Finally, Ameriprise Financial Inc. boosted its position in shares of Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after buying an additional 421,161 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on BK. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Evercore ISI increased their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. The Goldman Sachs Group upped their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group raised their target price on shares of 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $76.69.

Bank of New York Mellon Stock Up 0.2 %

Bank of New York Mellon stock opened at $76.49 on Friday. The firm has a market capitalization of $57.20 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $41.28 and a fifty-two week high of $78.03. The stock’s fifty day moving average is $70.55 and its two-hundred day moving average is $63.51.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 43.52%.

Bank of New York Mellon Company 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.