Investment Management Corp of Ontario Boosts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Investment Management Corp of Ontario grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 61.3% during the third quarter, Holdings Channel.com reports. The fund owned 196,701 shares of the bank’s stock after acquiring an additional 74,779 shares during the period. Investment Management Corp of Ontario’s holdings in Bank of New York Mellon were worth $14,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its position in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after buying an additional 8,512,404 shares in the last quarter. Marshall Wace LLP raised 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 worth $157,583,000 after buying an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Bank of New York Mellon by 6,040.9% during the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after acquiring an additional 1,020,906 shares during the period. Bank of Montreal Can raised its stake in shares of Bank of New York Mellon by 83.7% during the 3rd quarter. Bank of Montreal Can now owns 1,323,755 shares of the bank’s stock worth $94,913,000 after purchasing an additional 603,191 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Bank of New York Mellon by 89.5% during 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 during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $81.11 on Tuesday. 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 firm has a market cap of $58.97 billion, a PE ratio of 17.63, a PEG ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a 12-month low of $47.48 and a 12-month high of $82.72. The company’s 50 day moving average price is $76.07 and its two-hundred day moving average price is $67.59.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $4.52 billion. Equities research analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.32%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays increased their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their target price 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 note on Friday, November 15th. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Citigroup increased their price objective on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.77.

Insider Buying and Selling 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 transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 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. The trade was a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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.