Benjamin Edwards Inc. Boosts Stake in The Bank of New York Mellon Co. (NYSE:BK)

Benjamin Edwards Inc. boosted its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 583.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,306 shares of the bank's stock after purchasing an additional 8,797 shares during the quarter. Benjamin Edwards Inc.'s holdings in Bank of New York Mellon were worth $741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. increased its position in shares of 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 valued at $29,000 after purchasing an additional 346 shares during the last quarter. Clearstead Trust LLC purchased a new stake in Bank of New York Mellon in the second quarter worth approximately $32,000. Fortitude Family Office LLC grew its position in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock valued at $44,000 after acquiring an additional 346 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon during the third quarter worth approximately $46,000. Finally, Grove Bank & Trust lifted its holdings in shares of Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank's stock worth $46,000 after acquiring an additional 144 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 directly owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. 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 research note on Monday, October 7th. Barclays raised 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 report on Monday, October 14th. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Friday. Finally, The Goldman Sachs Group boosted their price objective 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. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.77.

Bank of New York Mellon Stock Down 1.2 %

BK traded down $0.98 on Friday, hitting $80.51. The company had a trading volume of 2,509,660 shares, compared to its average volume of 3,167,267. The Bank of New York Mellon Co. has a 52-week low of $47.60 and a 52-week high of $82.72. The stock has a fifty day simple moving average of $76.97 and a 200-day simple moving average of $68.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $58.54 billion, a P/E ratio of 17.50, a P/E/G ratio of 0.91 and a beta of 1.07.

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 (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 business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's dividend 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.