Sigma Planning Corp Purchases 143 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Sigma Planning Corp increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,470 shares of the bank’s stock after purchasing an additional 143 shares during the quarter. Sigma Planning Corp’s holdings in Bank of New York Mellon were worth $393,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BK. Empowered Funds LLC raised its stake in shares of Bank of New York Mellon by 28.1% during the 1st quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock worth $612,000 after purchasing an additional 2,328 shares during the period. Blair William & Co. IL boosted its stake in Bank of New York Mellon by 1.6% in the first quarter. Blair William & Co. IL now owns 21,393 shares of the bank’s stock valued at $1,233,000 after acquiring an additional 338 shares during the last quarter. Tocqueville Asset Management L.P. grew its position in shares of Bank of New York Mellon by 4.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 13,492 shares of the bank’s stock valued at $777,000 after acquiring an additional 528 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Bank of New York Mellon during the 1st quarter valued at approximately $6,087,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Bank of New York Mellon by 99.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 930,275 shares of the bank’s stock worth $53,271,000 after purchasing an additional 463,360 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Up 0.9 %

BK stock opened at $78.29 on Friday. The Bank of New York Mellon Co. has a one year low of $46.04 and a one year high of $80.29. The company has a market capitalization of $56.92 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The company’s 50 day moving average price is $73.75 and its two-hundred day moving average price is $65.74. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.40%. Bank of New York Mellon’s payout ratio is currently 40.87%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the sale, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred 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 owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BK. The Goldman Sachs Group upped their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company increased their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday. Morgan Stanley boosted their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, 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 note on Monday, October 14th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.23.

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.