Daiwa Securities Group Inc. Purchases 8,094 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Daiwa Securities Group Inc. increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,396 shares of the bank’s stock after purchasing an additional 8,094 shares during the period. Daiwa Securities Group Inc.’s holdings in Bank of New York Mellon were worth $6,927,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BK. Ascent Group LLC boosted its holdings in Bank of New York Mellon by 9.3% during the first quarter. Ascent Group LLC now owns 6,902 shares of the bank’s stock valued at $398,000 after purchasing an additional 586 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Bank of New York Mellon by 13.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 14,944 shares of the bank’s stock valued at $861,000 after buying an additional 1,803 shares in the last quarter. Tidal Investments LLC grew its position in Bank of New York Mellon by 20.6% in the first quarter. Tidal Investments LLC now owns 24,671 shares of the bank’s stock valued at $1,421,000 after acquiring an additional 4,210 shares during the period. Hancock Whitney Corp raised its stake in Bank of New York Mellon by 3.9% during the first quarter. Hancock Whitney Corp now owns 15,373 shares of the bank’s stock worth $886,000 after acquiring an additional 576 shares in the last quarter. Finally, Semmax Financial Advisors Inc. lifted its holdings in shares of Bank of New York Mellon by 1.9% during the first quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock valued at $591,000 after acquiring an additional 189 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BK. Citigroup increased their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. Barclays boosted their price objective on 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. Finally, 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. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.15.

Bank of New York Mellon Trading Up 1.3 %

Shares of NYSE BK opened at $81.22 on Tuesday. The company’s 50 day simple moving average is $75.25 and its 200 day simple moving average is $66.94. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $46.81 and a fifty-two week high of $81.62. The firm has a market capitalization of $59.05 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.92 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for 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%. On average, analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 shares of the firm’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 sale, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction on 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 $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

About Bank of New York Mellon

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.