Harvest Fund Management Co. Ltd Makes New $594,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Harvest Fund Management Co. Ltd acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,263 shares of the bank's stock, valued at approximately $594,000.

A number of other institutional investors also recently modified their holdings of BK. B. Riley Wealth Advisors Inc. grew its stake in shares of Bank of New York Mellon by 13.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,944 shares of the bank's stock worth $861,000 after acquiring an additional 1,803 shares in the last quarter. Tidal Investments LLC boosted its holdings in Bank of New York Mellon by 20.6% during the first quarter. Tidal Investments LLC now owns 24,671 shares of the bank's stock worth $1,421,000 after purchasing an additional 4,210 shares during the last quarter. Hancock Whitney Corp grew its position in Bank of New York Mellon by 3.9% in the 1st quarter. Hancock Whitney Corp now owns 15,373 shares of the bank's stock worth $886,000 after purchasing an additional 576 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Bank of New York Mellon by 15.5% during the 1st quarter. Citizens Financial Group Inc. RI now owns 40,980 shares of the bank's stock worth $2,361,000 after buying an additional 5,505 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $35,514,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

NYSE:BK traded up $0.48 during midday trading on Wednesday, hitting $81.75. The company had a trading volume of 2,823,686 shares, compared to its average volume of 3,844,526. The stock's fifty day moving average price is $75.46 and its 200-day moving average price is $67.10. 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 market capitalization of $59.44 billion, a PE ratio of 17.67, a P/E/G ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted 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 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. As a group, research analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.30%. Bank of New York Mellon's payout ratio is currently 40.87%.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the company'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 transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now owns 75,404 shares of the company's stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the firm's stock in a transaction on 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 directly owns 157,455 shares of the company's stock, valued at $12,040,583.85. The trade was 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on BK. UBS Group boosted their price target 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. The Goldman Sachs Group increased their target price on shares of 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. Barclays lifted their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average price target of $78.15.

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.