United Advisor Group LLC Acquires New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

United Advisor Group LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,275 shares of the bank's stock, valued at approximately $595,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stanley Laman Group Ltd. boosted its position in shares of Bank of New York Mellon by 2.2% during the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after buying an additional 135 shares during the period. Frank Rimerman Advisors LLC grew its stake in shares of Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock worth $928,000 after purchasing an additional 142 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank's stock valued at $46,000 after purchasing an additional 144 shares during the period. Signaturefd LLC raised its stake in shares of Bank of New York Mellon by 1.1% during the third quarter. Signaturefd LLC now owns 14,386 shares of the bank's stock valued at $1,034,000 after purchasing an additional 157 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in Bank of New York Mellon by 4.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank's stock valued at $231,000 after buying an additional 165 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on BK shares. StockNews.com upgraded shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research report on Monday, October 14th. Evercore ISI boosted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. UBS Group increased their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $76.69.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The sale 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 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 completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Trading Up 2.9 %

Shares of BK traded up $2.20 during midday trading on Wednesday, hitting $78.22. The stock had a trading volume of 6,240,758 shares, compared to its average volume of 3,868,070. The business has a 50-day simple moving average of $72.34 and a two-hundred day simple moving average of $64.85. The firm has a market cap of $57.72 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a fifty-two week low of $44.32 and a fifty-two week high of $80.29.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. Bank of New York Mellon's payout ratio is presently 40.87%.

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.