Caprock Group LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Caprock Group LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 41,231 shares of the bank's stock, valued at approximately $2,963,000.

Other large investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in shares of Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock worth $623,891,000 after buying an additional 421,161 shares during the period. Victory Capital Management Inc. boosted its position in Bank of New York Mellon by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank's stock valued at $490,640,000 after buying an additional 179,503 shares during the period. Legal & General Group Plc increased its position in shares of Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank's stock worth $482,597,000 after acquiring an additional 97,286 shares during the period. LSV Asset Management boosted its holdings in Bank of New York Mellon by 3.9% in the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank's stock valued at $453,315,000 after purchasing an additional 286,820 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Bank of New York Mellon by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank's stock worth $434,370,000 after purchasing an additional 454,151 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Trading Up 0.3 %

Shares of Bank of New York Mellon stock traded up $0.25 during trading hours on Wednesday, reaching $77.86. The stock had a trading volume of 3,482,618 shares, compared to its average volume of 3,854,446. 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 1 year low of $46.71 and a 1 year high of $80.29. The firm has a market capitalization of $56.61 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 0.89 and a beta of 1.07. The firm has a 50 day simple moving average of $74.41 and a two-hundred day simple moving average of $66.32.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, equities research analysts anticipate 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 announced 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 2.41%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's payout ratio is currently 40.87%.

Analyst Ratings Changes

BK has been the subject of a number of recent research reports. UBS Group lifted 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 research note on Tuesday, October 8th. Evercore ISI upped their price objective on 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 stock a "buy" rating in a research note on Thursday, September 26th. StockNews.com upgraded shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Citigroup increased their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.23.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president now directly owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

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.