Chase Investment Counsel Corp Has $6 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Chase Investment Counsel Corp boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 67.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,530 shares of the bank's stock after buying an additional 33,558 shares during the quarter. Bank of New York Mellon accounts for approximately 2.0% of Chase Investment Counsel Corp's investment portfolio, making the stock its 13th largest position. Chase Investment Counsel Corp's holdings in Bank of New York Mellon were worth $6,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in shares of Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after purchasing an additional 421,161 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Bank of New York Mellon by 2.2% during 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 last quarter. Legal & General Group Plc grew its position in Bank of New York Mellon by 1.2% in 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 in the last quarter. LSV Asset Management increased its stake in shares of Bank of New York Mellon by 3.9% during the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank's stock worth $453,315,000 after purchasing an additional 286,820 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Bank of New York Mellon by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank's stock valued at $434,370,000 after purchasing an additional 454,151 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Hanneke Smits sold 16,475 shares of the firm's stock in a transaction dated 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon 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 transaction, the vice president now directly owns 157,455 shares of the company's stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group raised their price objective 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 raised their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 26th. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Monday. Citigroup boosted their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.08.

Bank of New York Mellon Trading Down 0.2 %

NYSE BK traded down $0.19 on Wednesday, reaching $77.76. The company had a trading volume of 3,266,657 shares, compared to its average volume of 3,856,697. The stock has a market cap of $56.54 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 0.90 and a beta of 1.07. The stock's 50 day moving average is $73.36 and its 200-day moving average is $65.57. 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 Bank of New York Mellon Co. has a 52 week low of $46.00 and a 52 week high of $80.29.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its 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 firm had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. Equities analysts predict 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 company also recently declared 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. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 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.