Primecap Management Co. CA Has $51.73 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Primecap Management Co. CA increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 719,900 shares of the bank’s stock after purchasing an additional 8,400 shares during the quarter. Primecap Management Co. CA owned approximately 0.10% of Bank of New York Mellon worth $51,732,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in shares of Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after buying an additional 421,161 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Bank of New York Mellon by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock valued at $490,640,000 after purchasing an additional 179,503 shares in the last quarter. Legal & General Group Plc raised its position in Bank of New York Mellon by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after purchasing an additional 97,286 shares during the last quarter. LSV Asset Management boosted its stake in Bank of New York Mellon by 3.9% in the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock worth $453,315,000 after purchasing an additional 286,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Bank of New York Mellon by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock worth $434,370,000 after purchasing an additional 454,151 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred on 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 $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. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BK. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. increased their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley boosted their price objective 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 report on Monday, September 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, UBS Group upped their price target on 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. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.23.

Bank of New York Mellon Stock Up 1.4 %

NYSE:BK opened at $78.98 on Friday. The Bank of New York Mellon Co. has a 1 year low of $46.71 and a 1 year high of $80.29. The stock has a 50-day moving average price of $74.80 and a two-hundred day moving average price of $66.49. The stock has a market cap of $57.42 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.89 and a beta of 1.07. 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 issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is presently 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.