Mather Group LLC. Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Mather Group LLC. lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,610 shares of the bank’s stock after buying an additional 625 shares during the quarter. Mather Group LLC.’s holdings in Bank of New York Mellon were worth $619,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Olistico Wealth LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $30,000. Clearstead Trust LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Bank of New York Mellon during the 1st quarter valued at approximately $32,000. Able Wealth Management LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $32,000. Finally, Family Firm Inc. purchased a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $40,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 1.1 %

Shares of NYSE:BK opened at $74.02 on Thursday. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $74.20. The company has a market cap of $55.35 billion, a PE ratio of 16.94, a P/E/G ratio of 1.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50-day moving average is $67.77 and its 200 day moving average is $62.09.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the business earned $1.38 EPS. Bank of New York Mellon’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Monday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is currently 43.52%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BK. Morgan Stanley increased 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 note on Monday, September 30th. Evercore ISI increased their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. increased their target price 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.92.

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.