Neville Rodie & Shaw Inc. Purchases 22,506 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Neville Rodie & Shaw Inc. boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 82.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,935 shares of the bank’s stock after purchasing an additional 22,506 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Bank of New York Mellon were worth $3,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BK. State Street Corp increased its holdings in shares of Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock worth $2,393,915,000 after acquiring an additional 659,096 shares in the last quarter. FMR LLC boosted its position in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Bank of New York Mellon by 4.2% during the second 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. Legal & General Group Plc boosted its position in Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after purchasing an additional 97,286 shares during the last quarter. Finally, LSV Asset Management boosted its position in Bank of New York Mellon by 3.9% during the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock valued at $453,315,000 after purchasing an additional 286,820 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $1.63 during trading hours on Monday, reaching $78.56. 952,564 shares of the stock were exchanged, compared to its average volume of 2,542,262. The stock’s fifty day simple moving average is $78.41 and its 200 day simple moving average is $71.06. The Bank of New York Mellon Co. has a 52 week low of $52.09 and a 52 week high of $82.72. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $57.12 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 0.91 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Sell-side analysts predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.39%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the subject of several recent research reports. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday. Evercore ISI upped their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. 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 upped their price objective on Bank of New York Mellon from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.77.

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.