The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 288.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,984 shares of the bank’s stock after buying an additional 4,445 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Bank of New York Mellon were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Entropy Technologies LP acquired a new stake in Bank of New York Mellon during the first quarter valued at approximately $1,027,000. QRG Capital Management Inc. raised its position in shares of Bank of New York Mellon by 6.9% during the 1st 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 in the last quarter. Wakefield Asset Management LLLP bought a new position in Bank of New York Mellon during the first quarter worth $3,740,000. Bessemer Group Inc. lifted its stake in 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 during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.4 %

Shares of NYSE:BK opened at $74.15 on Monday. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $76.15. 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 $55.45 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.16 and a beta of 1.08. The company has a 50 day moving average of $68.37 and a 200-day moving average of $62.46.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 5.66 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on BK. The Goldman Sachs Group raised their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $80.00 in a report on Monday, September 23rd. UBS Group upped their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Evercore ISI increased their price target on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Finally, 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 report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $72.92.

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.