Advisors Asset Management Inc. Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Advisors Asset Management Inc. raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BKGet Rating) by 22.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,728 shares of the bank’s stock after purchasing an additional 2,534 shares during the quarter. Advisors Asset Management Inc.’s holdings in Bank of New York Mellon were worth $573,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rock Creek Group LP grew its holdings in shares of Bank of New York Mellon by 273.8% in the second quarter. Rock Creek Group LP now owns 729 shares of the bank’s stock valued at $30,000 after purchasing an additional 534 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at about $37,000. Field & Main Bank purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at about $42,000. Finally, Charter Oak Capital Management LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at about $48,000. Hedge funds and other institutional investors own 83.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $43.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday. Morgan Stanley dropped their price target on shares of Bank of New York Mellon from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 4th. Citigroup lifted their price target on shares of Bank of New York Mellon from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 18th. Barclays dropped their price target on shares of Bank of New York Mellon to $57.00 in a research report on Thursday, October 20th. Finally, StockNews.com began coverage on shares of Bank of New York Mellon in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.27.

Bank of New York Mellon Stock Up 1.5 %

Shares of Bank of New York Mellon stock opened at $44.56 on Friday. The Bank of New York Mellon Co. has a 52-week low of $36.22 and a 52-week high of $64.63. The company has a 50 day moving average of $41.47 and a 200 day moving average of $42.61. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $36.02 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.69 and a beta of 1.10.

Bank of New York Mellon (NYSE:BKGet Rating) last issued its quarterly earnings results on Monday, October 17th. The bank reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Bank of New York Mellon had a net margin of 16.07% and a return on equity of 10.07%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 4.32 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, October 26th. This represents a $1.48 dividend on an annualized basis and a yield of 3.32%. Bank of New York Mellon’s dividend payout ratio is currently 44.98%.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $39.37, for a total transaction of $787,400.00. Following the completion of the sale, the executive vice president now owns 108,686 shares in the company, valued at approximately $4,278,967.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by insiders.

Bank of New York Mellon Company Profile

(Get Rating)

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, prime brokerage, and data analytics.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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