The Bank of New York Mellon Co. (NYSE:BK) Stock Position Boosted by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,426 shares of the bank’s stock after buying an additional 331 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Bank of New York Mellon by 8.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 54,013 shares of the bank’s stock worth $3,112,000 after acquiring an additional 4,304 shares during the period. Norden Group LLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter worth approximately $870,000. First Trust Direct Indexing L.P. lifted its stake in Bank of New York Mellon by 10.2% during the first quarter. First Trust Direct Indexing L.P. now owns 25,915 shares of the bank’s stock valued at $1,493,000 after purchasing an additional 2,405 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Bank of New York Mellon by 42.0% during the first quarter. Private Advisor Group LLC now owns 50,770 shares of the bank’s stock worth $2,925,000 after buying an additional 15,026 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. grew its position in Bank of New York Mellon by 64.3% in the first quarter. BOK Financial Private Wealth Inc. now owns 1,278 shares of the bank’s stock worth $74,000 after buying an additional 500 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 157,455 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated 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. 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.

Bank of New York Mellon Trading Down 0.8 %

Bank of New York Mellon stock opened at $75.36 on Friday. The Bank of New York Mellon Co. has a 12 month low of $42.18 and a 12 month high of $78.03. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market cap of $56.36 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.16 and a beta of 1.08. The company’s fifty day simple moving average is $71.83 and its 200-day simple moving average is $64.29.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.49%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Finally, Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Five equities research 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, the company has an average rating of “Moderate Buy” and an average price target of $76.69.

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.