14,048 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,048 shares of the bank’s stock, valued at approximately $1,010,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Bank of New York Mellon by 78.6% in the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after buying an additional 421,161 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Bank of New York Mellon by 2.2% during the second quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock valued at $490,640,000 after buying an additional 179,503 shares during the period. Legal & General Group Plc increased its position in shares of Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after buying an additional 97,286 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Bank of New York Mellon by 3.9% in the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock worth $453,315,000 after buying an additional 286,820 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $81.27 on Wednesday. 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 52-week low of $46.81 and a 52-week high of $81.62. The company has a fifty day moving average of $75.46 and a 200-day moving average of $67.10. The stock has a market capitalization of $59.09 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth 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 (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.82 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on BK shares. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. UBS Group upped 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 report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on 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. Citigroup boosted their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $78.15.

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.