The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 67.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,496 shares of the bank’s stock after purchasing an additional 53,534 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $9,521,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Entropy Technologies LP acquired a new position in shares of Bank of New York Mellon during the 1st quarter worth about $1,027,000. QRG Capital Management Inc. raised its holdings in shares of Bank of New York Mellon by 6.9% during the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock valued at $7,351,000 after acquiring an additional 8,204 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $3,740,000. Bessemer Group Inc. increased its position in shares of Bank of New York Mellon by 128.8% during the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock worth $1,771,000 after purchasing an additional 17,312 shares in the last quarter. Finally, Ameriprise Financial Inc. raised 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 purchasing an additional 421,161 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BK. Royal Bank of Canada reiterated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Citigroup increased their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Wells Fargo & Company increased their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Finally, Morgan Stanley boosted their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $76.69.

Bank of New York Mellon Stock Down 0.8 %

Shares of BK opened at $75.93 on Thursday. 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 firm has a market cap of $56.78 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company’s 50-day moving average price is $71.63 and its 200 day moving average price is $64.21. The Bank of New York Mellon Co. has a 12-month low of $42.18 and a 12-month high of $78.03.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend 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 currently 43.52%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business’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 sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

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.