Maia Wealth LLC Invests $202,000 in The Bank of New York Mellon Co. (NYSE:BK)

Maia Wealth LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,646 shares of the bank’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Entropy Technologies LP bought a new stake in shares of Bank of New York Mellon during the first quarter valued at approximately $1,027,000. QRG Capital Management Inc. raised its holdings in 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 last quarter. Bessemer Group Inc. lifted its position in 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 valued at $1,771,000 after purchasing an additional 17,312 shares during the period. United Advisor Group LLC bought a new position in shares of Bank of New York Mellon in the 3rd quarter valued at about $595,000. Finally, Ameriprise Financial Inc. grew its position in shares of Bank of New York Mellon by 4.2% during the 2nd 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 Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on 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 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. 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 can be accessed through this hyperlink. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 2.9 %

Shares of NYSE:BK opened at $78.22 on Thursday. The Bank of New York Mellon Co. has a 52-week low of $44.32 and a 52-week high of $80.29. 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 has a market capitalization of $57.72 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07. The company has a 50-day simple moving average of $72.56 and a 200 day simple moving average of $64.94.

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

Bank of New York Mellon Announces Dividend

The company 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 2.40%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.69.

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.