Legacy Bridge LLC Raises Position in The Bank of New York Mellon Co. (NYSE:BK)

Legacy Bridge LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 730.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,393 shares of the bank's stock after acquiring an additional 14,418 shares during the period. Legacy Bridge LLC's holdings in Bank of New York Mellon were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Marshall Wace LLP increased its position in shares of Bank of New York Mellon by 99.4% in the second quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock valued at $157,583,000 after acquiring an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock worth $62,154,000 after purchasing an additional 1,020,906 shares during the last quarter. Swedbank AB acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Bank of New York Mellon by 89.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank's stock worth $72,835,000 after buying an additional 574,319 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Bank of New York Mellon by 69.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank's stock valued at $80,529,000 after buying an additional 574,185 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of several research reports. Citigroup raised their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Evercore ISI upped 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. Royal Bank of Canada restated 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. JPMorgan Chase & Co. lifted their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.23.

Bank of New York Mellon Trading Down 0.7 %

BK traded down $0.53 during trading on Tuesday, hitting $78.12. The company's stock had a trading volume of 637,378 shares, compared to its average volume of 3,849,161. The stock's fifty day moving average price is $74.21 and its 200-day moving average price is $66.17. The firm has a market capitalization of $56.80 billion, a P/E ratio of 16.95, a PEG ratio of 0.89 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a twelve month low of $46.71 and a twelve 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, beating analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.41%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.87%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon 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 completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value 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 $12,040,583.85. The trade was 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 owned by company insiders.

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.