The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,396 shares of the bank's stock after purchasing an additional 8,094 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Bank of New York Mellon were worth $6,927,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Studio Investment Management LLC increased its holdings in Bank of New York Mellon by 2.1% during the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock worth $477,000 after purchasing an additional 134 shares during the period. Stanley Laman Group Ltd. increased its holdings in shares of Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock valued at $445,000 after acquiring an additional 135 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock valued at $505,000 after acquiring an additional 137 shares during the period. Frank Rimerman Advisors LLC increased its holdings in shares of Bank of New York Mellon by 1.1% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock valued at $928,000 after acquiring an additional 142 shares during the period. Finally, Sigma Planning Corp increased its holdings in shares of Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank's stock valued at $393,000 after acquiring an additional 143 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company's 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at $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. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

BK has been the topic of several research analyst reports. StockNews.com upgraded Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their price target on 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. JPMorgan Chase & Co. lifted their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. UBS Group lifted their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, Citigroup lifted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus price target of $78.15.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $0.05 on Tuesday, hitting $81.27. The company's stock had a trading volume of 3,239,867 shares, compared to its average volume of 3,849,002. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $46.81 and a 1 year high of $81.62. The firm has a fifty day moving average price of $75.25 and a 200-day moving average price of $66.94. The company has a market capitalization of $59.09 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.92 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 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.52 billion. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.31%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.87%.

Bank of New York Mellon Company 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.