Searle & CO. Grows Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Searle & CO. raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 226.8% during the third quarter, HoldingsChannel reports. The firm owned 22,837 shares of the bank’s stock after buying an additional 15,848 shares during the period. Searle & CO.’s holdings in Bank of New York Mellon were worth $1,641,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. increased its stake in Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after buying an additional 421,161 shares during the period. Victory Capital Management Inc. raised its holdings in Bank of New York Mellon by 2.2% during the second quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock worth $490,640,000 after purchasing an additional 179,503 shares in the last quarter. Legal & General Group Plc lifted its position in Bank of New York Mellon by 1.2% in the second 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 period. LSV Asset Management boosted its holdings in Bank of New York Mellon by 3.9% in the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock valued at $453,315,000 after purchasing an additional 286,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Bank of New York Mellon by 6.7% during the 2nd 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 period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on BK shares. Barclays lifted 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. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group increased their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.69.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the 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 directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were 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 directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Trading Down 0.0 %

Shares of Bank of New York Mellon stock traded down $0.03 during trading hours on Wednesday, reaching $75.88. 794,918 shares of the company’s stock were exchanged, compared to its average volume of 3,864,512. The firm has a market capitalization of $56.74 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 52-week low of $41.28 and a 52-week high of $78.03. The company has a fifty day moving average of $70.31 and a 200-day moving average of $63.42.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.48%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

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.