Janney Montgomery Scott LLC Grows Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Janney Montgomery Scott LLC raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 14.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,748 shares of the bank's stock after acquiring an additional 16,041 shares during the period. Janney Montgomery Scott LLC's holdings in Bank of New York Mellon were worth $9,180,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BK. Nordea Investment Management AB grew its position in Bank of New York Mellon by 2.9% during the first quarter. Nordea Investment Management AB now owns 54,994 shares of the bank's stock worth $3,170,000 after buying an additional 1,574 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Bank of New York Mellon by 17.0% in the first quarter. Geneos Wealth Management Inc. now owns 5,528 shares of the bank's stock valued at $319,000 after purchasing an additional 805 shares in the last quarter. Empirical Finance LLC lifted its position in Bank of New York Mellon by 3.6% during the first quarter. Empirical Finance LLC now owns 27,067 shares of the bank's stock worth $1,560,000 after purchasing an additional 933 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Bank of New York Mellon by 53.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 69,121 shares of the bank's stock worth $3,983,000 after buying an additional 23,940 shares in the last quarter. Finally, AIA Group Ltd bought a new position in Bank of New York Mellon in the 1st quarter valued at about $1,605,000. Institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BK shares. The Goldman Sachs Group increased their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $69.00 to $79.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. UBS Group boosted their target price 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. Citigroup raised their price target 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, Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $76.69.

Bank of New York Mellon Trading Down 0.4 %

Shares of NYSE:BK traded down $0.34 during mid-day trading on Friday, hitting $77.35. The company had a trading volume of 1,334,811 shares, compared to its average volume of 3,855,768. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a one year low of $44.93 and a one year high of $80.29. The firm has a fifty day moving average price of $72.56 and a 200 day moving average price of $64.94. The company has a market capitalization of $56.24 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts' consensus estimates 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, research analysts forecast that The Bank of New York Mellon Co. will post 5.79 EPS 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. Stockholders of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.43%. 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 Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares of the company's stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Hanneke Smits sold 16,475 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business's 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 transaction, the executive vice president now owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. The trade was a 0.00 % 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 Company 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.