The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Catalina Capital Group LLC

Catalina Capital Group LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 2.2% during the third quarter, Holdings Channel.com reports. The firm owned 6,795 shares of the bank’s stock after purchasing an additional 145 shares during the period. Catalina Capital Group LLC’s holdings in Bank of New York Mellon were worth $488,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BK. Avidian Wealth Enterprises LLC lifted its holdings in Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after buying an additional 137 shares in the last quarter. HF Advisory Group LLC increased its stake in shares of Bank of New York Mellon by 6.2% during the third quarter. HF Advisory Group LLC now owns 10,363 shares of the bank’s stock worth $745,000 after buying an additional 607 shares during the period. Sentry Investment Management LLC acquired a new stake in Bank of New York Mellon in the third quarter valued at approximately $240,000. United Advisor Group LLC acquired a new position in Bank of New York Mellon during the 3rd quarter worth approximately $595,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at $78,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BK. Citigroup increased their target price 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. 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 stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Barclays boosted their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of 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. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Stock Performance

BK opened at $76.01 on Wednesday. The stock’s 50 day simple moving average is $72.34 and its 200 day simple moving average is $64.85. The stock has a market cap of $56.09 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.88 and a beta of 1.07. The Bank of New York Mellon Co. has a 1-year low of $44.32 and a 1-year high of $78.03. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results 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. 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 the consensus estimate of $4.52 billion. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $1,259,843.25. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing 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 sale, the executive vice president now directly owns 75,404 shares in the company, 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 owned by 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.