The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,198 shares of the bank’s stock after purchasing an additional 135 shares during the period. Stanley Laman Group Ltd.’s holdings in Bank of New York Mellon were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. lifted its holdings in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Olistico Wealth LLC purchased a new position in Bank of New York Mellon in the second quarter valued at $30,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon during the 1st quarter worth $32,000. Clearstead Trust LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter worth about $32,000. Finally, Family Firm Inc. acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a research note on Monday, September 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. UBS Group increased 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. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Price Performance

BK stock opened at $76.37 on Thursday. The business has a 50 day simple moving average of $70.55 and a 200-day simple moving average of $63.51. The company has a market capitalization of $57.11 billion, a P/E ratio of 17.68, a PEG ratio of 1.16 and a beta of 1.08. The Bank of New York Mellon Co. has a twelve month low of $41.28 and a twelve month high of $78.03. 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. Stockholders of record on Monday, October 21st will be issued a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.46%. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Buying and Selling at Bank of New York Mellon

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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now directly 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 disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Company 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.