Advisors Asset Management Inc. Has $4.45 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Advisors Asset Management Inc. grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 33.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,988 shares of the bank’s stock after purchasing an additional 15,419 shares during the period. Advisors Asset Management Inc.’s holdings in Bank of New York Mellon were worth $4,454,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. grew its stake in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $30,000. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $32,000. Family Firm Inc. acquired a new position in Bank of New York Mellon during the second quarter worth $40,000. Finally, Fortitude Family Office LLC raised its holdings in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $80.14 on Friday. The firm has a market capitalization of $58.27 billion, a price-to-earnings ratio of 17.42, 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. The business has a fifty day simple moving average of $75.03 and a 200 day simple moving average of $66.64. The Bank of New York Mellon Co. has a one year low of $46.81 and a one year high of $80.29.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results 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. The firm had revenue of $4.65 billion during 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%. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.82 EPS 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 given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BK. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley increased their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of 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. UBS Group lifted their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Citigroup boosted their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.23.

Insiders Place Their Bets

In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 in the company, 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 SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Company 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.