Mizuho Securities USA LLC Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Mizuho Securities USA LLC increased its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 659.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 437,755 shares of the bank's stock after buying an additional 380,091 shares during the quarter. Mizuho Securities USA LLC owned 0.06% of Bank of New York Mellon worth $31,457,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. United Advisor Group LLC bought a new position in Bank of New York Mellon in the 3rd quarter worth $595,000. Bessemer Group Inc. raised its stake in shares of Bank of New York Mellon by 128.8% in the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank's stock worth $1,771,000 after buying an additional 17,312 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after buying an additional 421,161 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Bank of New York Mellon by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock worth $63,514,000 after acquiring an additional 14,916 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its stake in Bank of New York Mellon by 67.2% during the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank's stock worth $6,002,000 after acquiring an additional 33,558 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 75,404 shares in the company, 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. Corporate insiders own 0.14% of the company's stock.

Analyst Ratings Changes

BK has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Barclays raised their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, October 14th. UBS Group upped their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. 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 report on Monday, November 11th. Finally, Evercore ISI increased their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an "in-line" rating in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.23.

Bank of New York Mellon Trading Up 0.9 %

Shares of BK stock traded up $0.72 during trading hours on Friday, reaching $78.29. 4,211,855 shares of the stock were exchanged, compared to its average volume of 3,869,190. 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 $46.04 and a 12-month high of $80.29. The firm has a market capitalization of $56.92 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The company's 50-day moving average price is $73.99 and its 200-day moving average price is $65.89.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $4.52 billion. As a group, equities analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. Bank of New York Mellon's payout ratio is 40.87%.

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.