Empowered Funds LLC Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Empowered Funds LLC grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,760 shares of the bank’s stock after acquiring an additional 1,162 shares during the quarter. Empowered Funds LLC’s holdings in Bank of New York Mellon were worth $989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empirical Finance LLC lifted its position in shares of Bank of New York Mellon by 2.3% in the third quarter. Empirical Finance LLC now owns 26,040 shares of the bank’s stock valued at $1,871,000 after acquiring an additional 589 shares in the last quarter. CIBC Asset Management Inc increased its stake in Bank of New York Mellon by 5.5% in the third quarter. CIBC Asset Management Inc now owns 127,784 shares of the bank’s stock valued at $9,183,000 after purchasing an additional 6,668 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in Bank of New York Mellon by 1.0% in the third quarter. OneDigital Investment Advisors LLC now owns 24,941 shares of the bank’s stock valued at $1,792,000 after purchasing an additional 259 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Bank of New York Mellon by 10.5% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 20,961 shares of the bank’s stock valued at $1,506,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Metis Global Partners LLC increased its stake in Bank of New York Mellon by 2.6% in the third quarter. Metis Global Partners LLC now owns 50,980 shares of the bank’s stock valued at $3,663,000 after purchasing an additional 1,278 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BK shares. Wells Fargo & Company upped their target price on 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. The Goldman Sachs Group upped their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $77.23.

Bank of New York Mellon Price Performance

BK stock opened at $80.14 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 52-week low of $46.81 and a 52-week high of $80.29. The stock’s 50 day moving average is $75.03 and its two-hundred day moving average is $66.64. The company has a market capitalization of $58.27 billion, a PE ratio of 17.42, a P/E/G ratio of 0.89 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

About Bank of New York Mellon

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.