Ledyard National Bank Has $333,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Ledyard National Bank boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 20.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,629 shares of the bank’s stock after buying an additional 798 shares during the period. Ledyard National Bank’s holdings in Bank of New York Mellon were worth $333,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Entropy Technologies LP acquired a new position in Bank of New York Mellon in the first quarter valued at approximately $1,027,000. QRG Capital Management Inc. raised its holdings in Bank of New York Mellon by 6.9% in the first 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 during the period. Wakefield Asset Management LLLP acquired a new stake in Bank of New York Mellon in the first quarter worth $3,740,000. Bessemer Group Inc. raised its holdings in Bank of New York Mellon by 128.8% in 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 period. Finally, Ameriprise Financial Inc. raised 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. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were 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 approximately $12,040,583.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

BK has been the topic of several analyst reports. Citigroup increased 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 report on Thursday, September 19th. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Monday, October 14th. UBS Group increased their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.69.

Bank of New York Mellon Stock Up 0.1 %

Bank of New York Mellon stock opened at $75.92 on Wednesday. The company has a market cap of $56.77 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The Bank of New York Mellon Co. has a 1-year low of $41.28 and a 1-year high of $78.03. The company has a fifty day simple moving average of $70.31 and a 200 day simple moving average of $63.42. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon Announces Dividend

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 given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

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.