SGL Investment Advisors Inc. Acquires Shares of 10,023 The Bank of New York Mellon Co. (NYSE:BK)

SGL Investment Advisors Inc. bought a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 10,023 shares of the bank's stock, valued at approximately $777,000.

Several other institutional investors have also added to or reduced their stakes in BK. United Advisor Group LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $595,000. Principal Financial Group Inc. lifted its holdings in shares of Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock worth $63,514,000 after purchasing an additional 14,916 shares during the period. Chase Investment Counsel Corp grew its stake in shares of Bank of New York Mellon by 67.2% in the third quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank's stock worth $6,002,000 after purchasing an additional 33,558 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after purchasing an additional 421,161 shares during the period. Finally, HighTower Advisors LLC raised its position in Bank of New York Mellon by 130.1% during the 3rd quarter. HighTower Advisors LLC now owns 326,372 shares of the bank's stock worth $23,449,000 after purchasing an additional 184,560 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BK. UBS Group boosted 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. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Friday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.00.

Bank of New York Mellon Stock Performance

NYSE BK traded up $0.30 on Monday, hitting $80.81. 3,699,677 shares of the stock traded hands, compared to its average volume of 3,816,631. 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 business's fifty day moving average is $76.97 and its two-hundred day moving average is $68.36. The Bank of New York Mellon Co. has a 12 month low of $49.15 and a 12 month high of $82.72. The firm has a market capitalization of $58.76 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.92 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced 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 2.33%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's payout ratio is presently 40.87%.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 shares of the business'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 transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated 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 sale, the executive vice president now owns 75,404 shares of the company's stock, valued at approximately $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 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.