The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC raised its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,024 shares of the bank’s stock after acquiring an additional 137 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Bank of New York Mellon were worth $505,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. raised its holdings in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $32,000. Fortitude Family Office LLC boosted its stake in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares in the last quarter. Finally, Grove Bank & Trust grew its holdings in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

NYSE BK opened at $77.68 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a fifty-two week low of $44.32 and a fifty-two week high of $80.29. The business has a fifty day moving average of $72.56 and a 200-day moving average of $64.94. The stock has a market cap of $56.48 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. As a group, analysts predict that The Bank of New York Mellon Co. will post 5.79 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.69.

Insiders Place Their Bets

In other Bank of New York Mellon news, 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 transaction, the vice president now owns 157,455 shares of the company’s stock, 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 through this link. In related news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction 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 approximately $5,754,079.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate 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.