GenTrust LLC Makes New $359,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

GenTrust LLC bought a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the third quarter, HoldingsChannel reports. The fund bought 5,000 shares of the bank’s stock, valued at approximately $359,000.

A number of other hedge funds have also recently added to or reduced their stakes in BK. Nwam LLC purchased a new position in Bank of New York Mellon during the 3rd quarter worth $245,000. Studio Investment Management LLC grew its holdings in shares of Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after buying an additional 134 shares during the last quarter. CFS Investment Advisory Services LLC purchased a new position in shares of Bank of New York Mellon during the third quarter worth about $221,000. Raymond James Trust N.A. raised its stake in Bank of New York Mellon by 0.3% during the 3rd quarter. Raymond James Trust N.A. now owns 218,016 shares of the bank’s stock valued at $15,667,000 after acquiring an additional 700 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its position in Bank of New York Mellon by 2.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 138,153 shares of the bank’s stock worth $10,646,000 after acquiring an additional 3,651 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $80.14 on Friday. 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 stock has a market cap of $58.27 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.89 and a beta of 1.07. The company’s 50-day moving average price is $75.03 and its 200 day moving average price is $66.64. The Bank of New York Mellon Co. has a 52 week low of $46.81 and a 52 week high of $80.29.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, research 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.35%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BK shares. The Goldman Sachs Group boosted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. UBS Group boosted their price target on shares of 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. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.