The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Covestor Ltd

Covestor Ltd boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 216.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,297 shares of the bank’s stock after buying an additional 887 shares during the quarter. Covestor Ltd’s holdings in Bank of New York Mellon were worth $93,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BK. Empowered Funds LLC grew its stake in shares of Bank of New York Mellon by 28.1% in the first quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock valued at $612,000 after buying an additional 2,328 shares in the last quarter. Atomi Financial Group Inc. grew its position in Bank of New York Mellon by 13.2% in the first quarter. Atomi Financial Group Inc. now owns 5,372 shares of the bank’s stock valued at $310,000 after acquiring an additional 625 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Bank of New York Mellon by 7.9% during the first quarter. Concurrent Investment Advisors LLC now owns 7,469 shares of the bank’s stock valued at $430,000 after purchasing an additional 548 shares during the period. Headlands Technologies LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth $155,000. Finally, US Bancorp DE boosted its stake in shares of Bank of New York Mellon by 3.5% in the first quarter. US Bancorp DE now owns 209,104 shares of the bank’s stock valued at $12,049,000 after purchasing an additional 7,115 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the business’s 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 completion of the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated 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 sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s 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 directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BK. Barclays boosted their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group upped their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.08.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $77.94 on Wednesday. The company has a market cap of $56.67 billion, a P/E ratio of 16.94, a PEG ratio of 0.90 and a beta of 1.07. The business has a 50 day moving average of $73.16 and a two-hundred day moving average of $65.43. The Bank of New York Mellon Co. has a 52 week low of $45.22 and a 52 week 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.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.47 dividend. 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 2.41%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

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.