Marco Investment Management LLC Purchases New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Marco Investment Management LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 3,400 shares of the bank’s stock, valued at approximately $244,000.

A number of other hedge funds have also made changes to their positions in the company. Summit Trail Advisors LLC lifted its position in Bank of New York Mellon by 19.9% during the third quarter. Summit Trail Advisors LLC now owns 6,039 shares of the bank’s stock worth $434,000 after buying an additional 1,004 shares in the last quarter. Borer Denton & Associates Inc. increased its stake in shares of Bank of New York Mellon by 40.0% in the 3rd quarter. Borer Denton & Associates Inc. now owns 26,620 shares of the bank’s stock worth $1,913,000 after acquiring an additional 7,610 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Bank of New York Mellon by 7.8% during the 3rd quarter. Larson Financial Group LLC now owns 2,086 shares of the bank’s stock worth $150,000 after acquiring an additional 151 shares during the period. Sompo Asset Management Co. Ltd. boosted its position in shares of Bank of New York Mellon by 9.6% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 15,910 shares of the bank’s stock valued at $1,143,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Swedbank AB grew its holdings in shares of Bank of New York Mellon by 4.1% in the third quarter. Swedbank AB now owns 725,864 shares of the bank’s stock valued at $52,161,000 after purchasing an additional 28,384 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.6 %

NYSE BK opened at $80.14 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a one year low of $46.81 and a one year high of $80.29. The firm has a market cap of $58.27 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.90 and a beta of 1.07. The firm has a 50 day simple moving average of $75.03 and a 200-day simple moving average of $66.77.

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

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s 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 owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BK shares. Barclays lifted their target price on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. The Goldman Sachs Group increased their price objective on 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. JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Evercore ISI upped their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.23.

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.