Quantinno Capital Management LP Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Quantinno Capital Management LP increased its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 33.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,560 shares of the bank's stock after acquiring an additional 26,681 shares during the quarter. Quantinno Capital Management LP's holdings in Bank of New York Mellon were worth $7,729,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BK. McClarren Financial Advisors Inc. lifted its position in shares of 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 worth $29,000 after purchasing an additional 346 shares during the period. Clearstead Trust LLC bought a new position in Bank of New York Mellon during the second quarter worth $32,000. Family Firm Inc. acquired a new position in Bank of New York Mellon in the second quarter valued at $40,000. Fortitude Family Office LLC boosted its position in 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 valued at $44,000 after acquiring an additional 346 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in 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 acquiring an additional 144 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business's 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 transaction, the vice president now owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 75,404 shares of the company's stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Down 1.2 %

Shares of BK traded down $0.98 on Friday, reaching $80.51. The company's stock had a trading volume of 2,491,253 shares, compared to its average volume of 3,818,327. The Bank of New York Mellon Co. has a twelve month low of $47.60 and a twelve month high of $82.72. The stock has a market capitalization of $58.54 billion, a PE ratio of 17.50, a PEG ratio of 0.92 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 firm has a fifty day moving average of $76.79 and a 200-day moving average of $68.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued 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. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate 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 predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 2.34%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is 40.87%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BK shares. Morgan Stanley boosted their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Royal Bank of Canada reissued a "sector perform" rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Evercore ISI increased their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. Barclays lifted their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Finally, StockNews.com raised shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.77.

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.