Primecap Management Co. CA Increases Position in The Bank of New York Mellon Co. (NYSE:BK)

Primecap Management Co. CA boosted its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 719,900 shares of the bank's stock after buying an additional 8,400 shares during the quarter. Primecap Management Co. CA owned approximately 0.10% of Bank of New York Mellon worth $51,732,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Stanley Laman Group Ltd. raised its holdings in shares of Bank of New York Mellon by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock valued at $445,000 after purchasing an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in 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 buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in 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 buying an additional 142 shares during the last quarter. Sigma Planning Corp lifted its position in Bank of New York Mellon by 2.7% during the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank's stock worth $393,000 after buying an additional 143 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Bank of New York Mellon by 28.8% during 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. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 1.6 %

Shares of NYSE:BK traded up $1.26 during mid-day trading on Friday, hitting $80.14. 2,755,872 shares of the company traded hands, compared to its average volume of 3,845,165. The stock has a 50-day moving average price of $74.80 and a two-hundred day moving average price of $66.49. The stock has a market cap of $58.27 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.89 and a beta of 1.07. 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 Bank of New York Mellon Co. has a 12-month low of $46.81 and a 12-month high of $80.29.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced 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 net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, equities research analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was 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 directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 9.47 % 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 insiders.

Analysts Set New Price Targets

BK has been the topic of a number of recent research reports. Evercore ISI lifted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the company an "in-line" rating in a research report on Monday, October 14th. Morgan Stanley upped their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. StockNews.com raised shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday. UBS Group upped their price target on shares of 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, Wells Fargo & Company increased their price target 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. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.23.

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.