The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 33.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 61,988 shares of the bank's stock after purchasing an additional 15,419 shares during the period. Advisors Asset Management Inc.'s holdings in Bank of New York Mellon were worth $4,454,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. McClarren Financial Advisors Inc. boosted its position in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $30,000. Clearstead Trust LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $32,000. Fortitude Family Office LLC grew its position 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 worth $44,000 after buying an additional 346 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $46,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $80.14 on Friday. The company has a market capitalization of $58.27 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.89 and a beta of 1.07. The business's 50 day moving average is $75.03 and its two-hundred day moving average is $66.64. 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 12-month low of $46.81 and a 12-month high of $80.29.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Analysts expect 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 announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. Bank of New York Mellon's payout ratio is currently 40.87%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BK. Evercore ISI lifted 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. Citigroup lifted their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, September 19th. StockNews.com raised shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research report on Tuesday. Barclays boosted their target price on shares of 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. Finally, Morgan Stanley boosted their target price on shares of 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.23.

Insider Buying and Selling at Bank of New York Mellon

In related news, 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 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 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owns 157,455 shares of the company's stock, 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.

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.