Asset Management One Co. Ltd. Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Asset Management One Co. Ltd. raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,742 shares of the bank’s stock after buying an additional 1,643 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Bank of New York Mellon were worth $22,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. McClarren Financial Advisors Inc. grew its holdings in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after purchasing an additional 346 shares during the period. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $30,000. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $40,000. Finally, Fortitude Family Office LLC raised its position in shares of 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 worth $44,000 after buying an additional 346 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.3 %

Shares of BK opened at $76.01 on Wednesday. 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 Bank of New York Mellon Co. has a one year low of $44.32 and a one year high of $78.03. The stock has a 50-day moving average price of $72.34 and a 200 day moving average price of $64.85. The company has a market capitalization of $56.09 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.88 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 40.87%.

Analyst Ratings Changes

Several equities research analysts have commented on BK shares. Wells Fargo & Company upped their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Monday, October 14th. UBS Group raised their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Evercore ISI raised their target price 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the business’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 completion of the sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 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 disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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.