Prospera Financial Services Inc Buys 542 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Prospera Financial Services Inc boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,294 shares of the bank’s stock after buying an additional 542 shares during the quarter. Prospera Financial Services Inc’s holdings in Bank of New York Mellon were worth $381,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BK. Marshall Wace LLP lifted its stake in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after purchasing an additional 1,311,969 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after buying an additional 1,020,906 shares in the last quarter. Swedbank AB purchased a new stake in shares of Bank of New York Mellon in the 1st quarter worth about $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Bank of New York Mellon by 89.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after acquiring an additional 574,319 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Bank of New York Mellon by 440.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 645,811 shares of the bank’s stock valued at $38,678,000 after acquiring an additional 526,249 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

NYSE BK opened at $80.14 on Monday. The stock has a market cap of $58.27 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.90 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $46.81 and a 12 month high of $80.29. The company’s 50 day moving average is $75.03 and its two-hundred day moving average is $66.77. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the firm’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 transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BK. The Goldman Sachs Group boosted their price target on 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. Evercore ISI increased their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.23.

Bank of New York Mellon 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.