Kingsview Wealth Management LLC Acquires 7,537 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Kingsview Wealth Management LLC boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 129.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,380 shares of the bank's stock after buying an additional 7,537 shares during the quarter. Kingsview Wealth Management LLC's holdings in Bank of New York Mellon were worth $961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. McClarren Financial Advisors Inc. lifted its position in Bank of New York Mellon by 586.4% in 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 in the last quarter. Olistico Wealth LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter worth $30,000. Clearstead Trust LLC bought a new stake in Bank of New York Mellon during the 2nd quarter valued at approximately $32,000. Fortitude Family Office LLC boosted its position in shares of 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 worth $44,000 after acquiring an additional 346 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Bank of New York Mellon in the third quarter worth about $46,000. Institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BK. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an "equal weight" rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of 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. Citigroup boosted 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 note on Monday. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.15.

Bank of New York Mellon Stock Up 0.6 %

Bank of New York Mellon stock traded up $0.48 during midday trading on Wednesday, hitting $81.75. 2,823,686 shares of the stock were exchanged, compared to its average volume of 3,844,544. The firm has a market cap of $59.44 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a 1 year low of $46.81 and a 1 year high of $82.08. 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 company has a 50 day moving average price of $75.67 and a two-hundred day moving average price of $67.20.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share 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 for the quarter, compared to analysts' expectations of $4.52 billion. On average, sell-side analysts predict 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 announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is 40.87%.

Insider Activity

In other 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 transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company's stock in a transaction 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 of the company's stock, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

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.