Point72 Hong Kong Ltd Boosts Stake in The Bank of New York Mellon Co. (NYSE:BK)

Point72 Hong Kong Ltd boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1,340.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,400 shares of the bank’s stock after purchasing an additional 14,331 shares during the period. Point72 Hong Kong Ltd’s holdings in Bank of New York Mellon were worth $1,107,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Tidal Investments LLC increased its holdings in Bank of New York Mellon by 20.6% in the 1st quarter. Tidal Investments LLC now owns 24,671 shares of the bank’s stock worth $1,421,000 after acquiring an additional 4,210 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of Bank of New York Mellon by 551.4% in the first quarter. Cetera Advisors LLC now owns 64,274 shares of the bank’s stock worth $3,703,000 after purchasing an additional 54,407 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Bank of New York Mellon by 74.9% in the second quarter. GAMMA Investing LLC now owns 9,177 shares of the bank’s stock worth $550,000 after purchasing an additional 3,930 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Bank of New York Mellon by 43.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,619 shares of the bank’s stock valued at $157,000 after purchasing an additional 796 shares during the period. Finally, DNB Asset Management AS lifted its stake in shares of Bank of New York Mellon by 6.1% during the 2nd quarter. DNB Asset Management AS now owns 131,112 shares of the bank’s stock valued at $7,852,000 after buying an additional 7,593 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BK. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Evercore ISI lifted their target price 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. UBS Group upped their price target on 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped 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 assigned a buy rating to the company’s 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.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’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 transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. The trade was 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 Trading Up 0.2 %

BK opened at $81.87 on Monday. The Bank of New York Mellon Co. has a 12 month low of $47.44 and a 12 month high of $82.72. 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 50-day moving average of $76.07 and a 200 day moving average of $67.59. The firm has a market cap of $59.53 billion, a P/E ratio of 17.80, a P/E/G ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

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.