Aptus Capital Advisors LLC Boosts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Aptus Capital Advisors LLC boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,665 shares of the bank’s stock after buying an additional 271 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Bank of New York Mellon were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. United Advisor Group LLC purchased a new stake in shares of Bank of New York Mellon during the third quarter valued at $595,000. Bessemer Group Inc. boosted its stake in shares of Bank of New York Mellon by 128.8% during the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock valued at $1,771,000 after purchasing an additional 17,312 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after purchasing an additional 421,161 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock valued at $63,514,000 after purchasing an additional 14,916 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Bank of New York Mellon during the first quarter valued at $6,087,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

BK opened at $78.29 on Friday. The Bank of New York Mellon Co. has a 52-week low of $46.04 and a 52-week high of $80.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market cap of $56.92 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The firm’s 50-day moving average price is $73.75 and its 200-day moving average price is $65.74.

Bank of New York Mellon (NYSE:BK) last posted 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 net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. As a group, equities 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.40%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction that occurred 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 owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the company’s 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays boosted their target price on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Citigroup upped their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.23.

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.