CWA Asset Management Group LLC Buys Shares of 28,391 The Bank of New York Mellon Co. (NYSE:BK)

CWA Asset Management Group LLC bought a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 28,391 shares of the bank's stock, valued at approximately $2,040,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. McClarren Financial Advisors Inc. boosted 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 acquiring an additional 346 shares during the last quarter. Olistico Wealth LLC bought a new stake in Bank of New York Mellon during the second quarter valued at approximately $30,000. Clearstead Trust LLC purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $32,000. Fortitude Family Office LLC grew its stake in 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 in the last quarter. Finally, Grove Bank & Trust increased 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 buying an additional 144 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on BK shares. Citigroup increased their target price 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. Deutsche Bank Aktiengesellschaft upgraded Bank of New York Mellon from a "hold" rating to a "buy" rating and increased their price objective for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $76.69.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm'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 transaction, the executive vice president now owns 75,404 shares of the company's stock, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the 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 sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 0.00 % 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 Trading Down 0.8 %

Shares of BK stock traded down $0.63 during mid-day trading on Friday, reaching $77.06. The stock had a trading volume of 3,176,365 shares, compared to its average volume of 4,158,608. 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 stock's 50-day moving average price is $72.95 and its two-hundred day moving average price is $65.23. The firm has a market capitalization of $56.03 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The Bank of New York Mellon Co. has a 52-week low of $44.93 and a 52-week high of $80.29.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 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%. Equities analysts expect that The Bank of New York Mellon Co. will post 5.79 earnings per share 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. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

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.