Plato Investment Management Ltd Has $4.77 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Plato Investment Management Ltd lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,413 shares of the bank's stock after purchasing an additional 9,947 shares during the period. Plato Investment Management Ltd's holdings in Bank of New York Mellon were worth $4,768,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Marshall Wace LLP lifted its position in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock worth $157,583,000 after buying an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Bank of New York Mellon by 6,040.9% in the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock valued at $62,154,000 after acquiring an additional 1,020,906 shares during the period. M&G Plc bought a new position in shares of Bank of New York Mellon during the first quarter valued at approximately $55,543,000. Swedbank AB acquired a new stake in shares of Bank of New York Mellon during the 1st quarter worth approximately $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Bank of New York Mellon by 89.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank's stock worth $72,835,000 after purchasing an additional 574,319 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm's stock in a transaction on 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 sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents 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 currently owned by company insiders.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.03 during midday trading on Thursday, reaching $77.58. The stock had a trading volume of 4,220,341 shares, compared to its average volume of 3,867,636. The firm's 50 day moving average price is $73.56 and its 200-day moving average price is $65.66. The Bank of New York Mellon Co. has a 52 week low of $46.04 and a 52 week high of $80.29. The company has a market capitalization of $56.41 billion, a P/E ratio of 16.87, a P/E/G ratio of 0.90 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results 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 net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.52 billion. On average, analysts forecast 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's payout ratio is 40.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. 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 note on Monday, October 14th. JPMorgan Chase & Co. upped their price target on shares of 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. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Monday. Citigroup boosted 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 note on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average price target of $77.08.

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.