Plato Investment Management Ltd Increases Position in The Bank of New York Mellon Co. (NYSE:BK)

Plato Investment Management Ltd boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 17.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,413 shares of the bank’s stock after purchasing an additional 9,947 shares during the period. Plato Investment Management Ltd’s holdings in Bank of New York Mellon were worth $4,768,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Ameriprise Financial Inc. raised its stake in shares of Bank of New York Mellon by 4.2% in the 2nd 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 in the last quarter. Victory Capital Management Inc. raised its stake in Bank of New York Mellon by 2.2% during the second quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock valued at $490,640,000 after buying an additional 179,503 shares in the last quarter. Legal & General Group Plc lifted its holdings in Bank of New York Mellon by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock worth $482,597,000 after buying an additional 97,286 shares during the last quarter. LSV Asset Management grew its position in shares of Bank of New York Mellon by 3.9% in the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock worth $453,315,000 after acquiring an additional 286,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Bank of New York Mellon by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock valued at $434,370,000 after acquiring an additional 454,151 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.4 %

BK stock opened at $77.61 on Thursday. The firm’s 50-day moving average is $73.36 and its two-hundred day moving average is $65.57. 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 company has a market capitalization of $56.43 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 0.90 and a beta of 1.07. The Bank of New York Mellon Co. has a 52 week low of $46.00 and a 52 week high of $80.29.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping 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 firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BK. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group boosted their price objective 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. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.08.

Insider Buying and Selling 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 shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of 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 at the SEC website. In other Bank of New York Mellon news, 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 transaction of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the firm’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 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 disclosure for this sale can be found here. 0.14% of the stock is owned by corporate 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.