Borer Denton & Associates Inc. Has $1.91 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Borer Denton & Associates Inc. increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 40.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,620 shares of the bank’s stock after buying an additional 7,610 shares during the quarter. Borer Denton & Associates Inc.’s holdings in Bank of New York Mellon were worth $1,913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC boosted its holdings in shares of Bank of New York Mellon by 46.9% in the first quarter. CreativeOne Wealth LLC now owns 7,254 shares of the bank’s stock valued at $418,000 after buying an additional 2,315 shares during the period. Advisors Asset Management Inc. increased its holdings in Bank of New York Mellon by 63.7% during the 1st quarter. Advisors Asset Management Inc. now owns 35,405 shares of the bank’s stock worth $2,040,000 after purchasing an additional 13,778 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Bank of New York Mellon by 3.1% in the 1st quarter. 1832 Asset Management L.P. now owns 47,120 shares of the bank’s stock valued at $2,715,000 after purchasing an additional 1,423 shares during the period. LRI Investments LLC acquired a new stake in shares of Bank of New York Mellon in the 1st quarter valued at about $71,000. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Bank of New York Mellon by 134.7% in the first quarter. Epoch Investment Partners Inc. now owns 10,597 shares of the bank’s stock valued at $611,000 after purchasing an additional 6,081 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.6 %

Bank of New York Mellon stock opened at $80.14 on Friday. The stock has a 50-day simple moving average of $75.03 and a 200 day simple moving average of $66.71. The stock has a market capitalization of $58.27 billion, a P/E ratio of 17.42, a PEG ratio of 0.90 and a beta of 1.07. 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 52 week low of $46.81 and a 52 week high of $80.29.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.35%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was 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 directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report 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 note on Tuesday, November 19th. Finally, Barclays increased their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.23.

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.