Searle & CO. Increases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Searle & CO. raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 226.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,837 shares of the bank’s stock after buying an additional 15,848 shares during the quarter. Searle & CO.’s holdings in Bank of New York Mellon were worth $1,641,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BK. McClarren Financial Advisors Inc. raised its stake in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after acquiring an additional 346 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of Bank of New York Mellon in the second quarter worth about $30,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Bank of New York Mellon during the first quarter worth about $32,000. Clearstead Trust LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at approximately $32,000. Finally, Family Firm Inc. acquired a new position in Bank of New York Mellon in the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Down 0.0 %

Shares of NYSE:BK traded down $0.03 during mid-day trading on Wednesday, reaching $75.88. 794,918 shares of the company were exchanged, compared to its average volume of 3,864,512. The firm has a market cap of $56.74 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1 year low of $41.28 and a 1 year high of $78.03. The firm’s 50-day simple moving average is $70.31 and its 200 day simple moving average is $63.42.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.48%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BK shares. Evercore ISI lifted their price objective 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. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. UBS Group upped their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.69.

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.