My Legacy Advisors LLC Takes $272,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

My Legacy Advisors LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,785 shares of the bank’s stock, valued at approximately $272,000.

Other institutional investors also recently modified their holdings of the company. McClarren Financial Advisors Inc. raised its position 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 worth $29,000 after acquiring an additional 346 shares during the period. Olistico Wealth LLC purchased a new position in Bank of New York Mellon in the second quarter valued at approximately $30,000. Kathleen S. Wright Associates Inc. bought a new position in Bank of New York Mellon during the first quarter valued at $32,000. Clearstead Trust LLC purchased a new stake in Bank of New York Mellon in the second quarter worth $32,000. Finally, Family Firm Inc. bought a new stake in shares of Bank of New York Mellon in the second quarter valued at $40,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BK shares. Barclays increased their price target on 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. 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 report on Thursday, September 26th. Royal Bank of Canada reissued 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. Evercore ISI lifted 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, Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $75.92 on Wednesday. The business has a 50-day simple moving average of $70.31 and a 200 day simple moving average of $63.42. The Bank of New York Mellon Co. has a 52 week low of $41.28 and a 52 week high of $78.03. The stock has a market cap of $56.77 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 1.16 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the 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 transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 dated 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 $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value 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 trade 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 currently owned by insiders.

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.