HighTower Advisors LLC Buys 31,444 Shares of The Bank of New York Mellon Co. (NYSE:BK)

HighTower Advisors LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 9.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 363,796 shares of the bank’s stock after acquiring an additional 31,444 shares during the period. HighTower Advisors LLC’s holdings in Bank of New York Mellon were worth $15,503,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of Bank of New York Mellon by 160.0% in the 1st quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock worth $263,000 after purchasing an additional 3,297 shares in the last quarter. Prudential PLC purchased a new position in Bank of New York Mellon in the 1st quarter worth approximately $1,096,000. Cetera Investment Advisers raised its holdings in Bank of New York Mellon by 3.3% in the 1st quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock worth $1,769,000 after acquiring an additional 1,154 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in Bank of New York Mellon by 54.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock worth $11,519,000 after acquiring an additional 81,728 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in Bank of New York Mellon by 165.3% in the 1st quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock worth $72,000 after acquiring an additional 909 shares during the last quarter. 81.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,425 shares of Bank of New York Mellon stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction of $850,843.00. Following the completion of the sale, the vice president now directly owns 119,656 shares in the company, valued at $6,600,224.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Hanneke Smits sold 15,425 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction of $850,843.00. Following the completion of the transaction, the vice president now owns 119,656 shares of the company’s stock, valued at $6,600,224.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Bank of New York Mellon Stock Up 0.7 %

Shares of NYSE BK opened at $55.62 on Tuesday. The stock has a market capitalization of $42.78 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.14 and a beta of 1.12. The firm’s 50-day moving average price is $53.00 and its 200-day moving average price is $47.41. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $56.42. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BKGet Free Report) last released its quarterly earnings data on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.62%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $1.30 earnings per share. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.23 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Monday, January 22nd were paid a $0.42 dividend. The ex-dividend date was Friday, January 19th. This represents a $1.68 annualized dividend and a yield of 3.02%. Bank of New York Mellon’s dividend payout ratio (DPR) is 42.32%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price objective for the company in a report on Monday, December 18th. UBS Group boosted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $52.00 to $62.00 in a research note on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.75.

Read Our Latest Stock Analysis on BK

Bank of New York Mellon Profile

(Free Report)

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.

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Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BKFree Report).

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

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