Segall Bryant & Hamill LLC Buys New Position in The Bank of New York Mellon Co. (NYSE:BK)

Segall Bryant & Hamill LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 26,566 shares of the bank’s stock, valued at approximately $1,909,000.

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

Insider Activity

In other news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s 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 completion of the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 1.6 %

Shares of Bank of New York Mellon stock opened at $80.14 on Friday. The Bank of New York Mellon Co. has a twelve month low of $46.81 and a twelve month high of $80.29. 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 company’s 50 day moving average is $75.03 and its 200 day moving average is $66.71. The company has a market cap of $58.27 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its quarterly 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 return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Research analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid 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 dividend yield of 2.35%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent research reports. Evercore ISI lifted their price target 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 report on Monday, October 14th. UBS Group lifted their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. 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 research note on Monday, October 7th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Barclays increased their target price 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. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $77.23.

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.