CWA Asset Management Group LLC Acquires New Position in The Bank of New York Mellon Co. (NYSE:BK)

CWA Asset Management Group LLC bought a new position in The Bank of New York Mellon Co. (NYSE:BK) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 28,391 shares of the bank’s stock, valued at approximately $2,040,000.

Other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its position in Bank of New York Mellon by 53.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 69,121 shares of the bank’s stock valued at $3,983,000 after purchasing an additional 23,940 shares in the last quarter. Empowered Funds LLC grew its position in shares of Bank of New York Mellon by 28.1% in the 1st quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock worth $612,000 after buying an additional 2,328 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of Bank of New York Mellon by 10.4% during the 1st quarter. Wealthspire Advisors LLC now owns 10,680 shares of the bank’s stock worth $615,000 after acquiring an additional 1,005 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Bank of New York Mellon during the first quarter valued at approximately $209,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Bank of New York Mellon by 10.7% in the first quarter. Oppenheimer & Co. Inc. now owns 29,996 shares of the bank’s stock valued at $1,728,000 after acquiring an additional 2,903 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related 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 transaction of $1,907,750.00. Following 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction 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 transaction, the vice president now 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 currently owned by insiders.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $77.06 on Friday. The Bank of New York Mellon Co. has a 1 year low of $44.93 and a 1 year high of $80.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The company’s fifty day moving average price is $72.95 and its 200 day moving average price is $65.17. The company has a market capitalization of $56.03 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.91 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 (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. On average, research analysts predict that The Bank of New York Mellon Co. will post 5.79 earnings per share 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 paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.44%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BK shares. Keefe, Bruyette & Woods reaffirmed 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. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. UBS Group upped their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Citigroup lifted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Evercore ISI upped their target price on 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.69.

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.