Transamerica Financial Advisors Inc. Purchases New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Transamerica Financial Advisors Inc. purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,048 shares of the bank's stock, valued at approximately $1,010,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BK. McClarren Financial Advisors Inc. boosted its holdings in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Olistico Wealth LLC purchased a new position in Bank of New York Mellon in the second quarter worth approximately $30,000. Clearstead Trust LLC acquired a new stake in Bank of New York Mellon during the second quarter worth $32,000. Family Firm Inc. purchased a new stake in Bank of New York Mellon in the second quarter valued at $40,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock valued at $44,000 after purchasing an additional 346 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of BK traded up $0.48 during mid-day trading on Wednesday, reaching $81.75. 2,823,686 shares of the company's stock were exchanged, compared to its average volume of 3,844,544. The Bank of New York Mellon Co. has a 52-week low of $46.81 and a 52-week high of $82.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a 50-day simple moving average of $75.67 and a two-hundred day simple moving average of $67.20. The company has a market cap of $59.44 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared 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 of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.30%. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley raised their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. StockNews.com raised shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, Barclays raised their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.15.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated 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 in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 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.