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

Resonant Capital Advisors LLC raised its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,484 shares of the bank’s stock after purchasing an additional 256 shares during the period. Resonant Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $322,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Entropy Technologies LP acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $1,027,000. QRG Capital Management Inc. increased its stake 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 worth $7,351,000 after purchasing an additional 8,204 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $3,740,000. Bessemer Group Inc. increased its position 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 buying an additional 17,312 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of 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 acquiring an additional 421,161 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $76.67 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 12 month low of $41.15 and a 12 month high of $78.03. The company has a market cap of $57.34 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The stock’s 50-day moving average is $69.81 and its 200-day moving average is $63.15.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.45%. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

Wall Street Analyst Weigh In

A number of analysts recently commented on BK shares. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. The Goldman Sachs Group lifted 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 report on Thursday, September 26th. Evercore ISI upped their price objective on shares of 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. Citigroup lifted their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, UBS Group increased their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.69.

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.