Caprock Group LLC Makes New $2.96 Million Investment in The Bank of New York Mellon Co. (NYSE:BK)

Caprock Group LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the third quarter, according to its most recent filing with the SEC. The fund purchased 41,231 shares of the bank’s stock, valued at approximately $2,963,000.

Several other institutional investors and hedge funds have also made changes to their positions in BK. Ameriprise Financial Inc. boosted 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 worth $623,891,000 after purchasing an additional 421,161 shares during the period. Victory Capital Management Inc. grew its position in shares of Bank of New York Mellon by 2.2% during the 2nd 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 during the last quarter. Legal & General Group Plc grew its position in shares of 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 valued at $482,597,000 after buying an additional 97,286 shares during the last quarter. LSV Asset Management raised its stake in Bank of New York Mellon by 3.9% during the second 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 during the period. Finally, Dimensional Fund Advisors LP raised its stake in Bank of New York Mellon by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock worth $434,370,000 after acquiring an additional 454,151 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on 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 sale, the vice president now directly 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 SEC, which is available at the SEC website. Also, 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 value of $1,907,750.00. Following the completion of the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This 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 Stock Performance

Shares of NYSE BK opened at $77.60 on Wednesday. The Bank of New York Mellon Co. has a 1 year low of $46.71 and a 1 year high of $80.29. The firm has a market cap of $56.42 billion, a P/E ratio of 16.87, a PEG ratio of 0.89 and a beta of 1.07. The stock has a fifty day moving average price of $74.41 and a two-hundred day moving average price of $66.32. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share 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 analysts’ expectations of $4.52 billion. Research analysts forecast that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced 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 2.42%. Bank of New York Mellon’s payout ratio is currently 40.87%.

Analysts Set New Price Targets

Several equities analysts have recently commented on BK shares. 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 report on Monday, October 7th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. UBS Group raised their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Evercore ISI lifted 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 research report on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.23.

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.