Great West Life Assurance Co. Can Has $69.26 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Great West Life Assurance Co. Can grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,521,716 shares of the bank’s stock after purchasing an additional 25,712 shares during the period. Great West Life Assurance Co. Can owned approximately 0.19% of Bank of New York Mellon worth $69,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. increased its position in shares of Bank of New York Mellon by 97.1% during the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after acquiring an additional 300 shares in the last quarter. Exos TFP Holdings LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $32,000. Sandy Spring Bank bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $36,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $45,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Bank of New York Mellon during the first quarter worth about $52,000. Institutional investors and hedge funds own 81.29% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 35,000 shares of the stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $46.33, for a total transaction of $1,621,550.00. Following the transaction, the executive vice president now owns 98,102 shares of the company’s stock, valued at approximately $4,545,065.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 35,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $46.33, for a total value of $1,621,550.00. Following the transaction, the executive vice president now owns 98,102 shares in the company, valued at $4,545,065.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 14,045 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $45.64, for a total transaction of $641,013.80. Following the completion of the transaction, the insider now owns 23,816 shares in the company, valued at approximately $1,086,962.24. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BK shares. Evercore ISI decreased their target price on shares of Bank of New York Mellon from $49.00 to $46.00 in a research report on Friday, May 12th. Citigroup reduced their price objective on shares of Bank of New York Mellon from $58.00 to $55.00 in a research report on Wednesday, July 19th. StockNews.com initiated coverage on shares of Bank of New York Mellon in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $43.00 to $44.00 in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $52.90.

Bank of New York Mellon Stock Performance

NYSE BK opened at $44.85 on Friday. The company’s 50 day simple moving average is $44.78 and its two-hundred day simple moving average is $44.44. The stock has a market capitalization of $34.93 billion, a PE ratio of 13.08, a P/E/G ratio of 1.16 and a beta of 1.10. The Bank of New York Mellon Co. has a 1 year low of $36.22 and a 1 year high of $52.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, July 18th. The bank reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.16. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. Bank of New York Mellon had a net margin of 10.95% and a return on equity of 11.88%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 EPS. Analysts predict that The Bank of New York Mellon Co. will post 4.85 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Friday, July 28th were issued a $0.42 dividend. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, July 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.75%. Bank of New York Mellon’s dividend payout ratio is presently 48.98%.

Bank of New York Mellon 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.