Metis Global Partners LLC Buys 1,278 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Metis Global Partners LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,980 shares of the bank’s stock after buying an additional 1,278 shares during the quarter. Metis Global Partners LLC’s holdings in Bank of New York Mellon were worth $3,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. United Advisor Group LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $595,000. Bessemer Group Inc. grew its stake in shares of Bank of New York Mellon by 128.8% in the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock worth $1,771,000 after purchasing an additional 17,312 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares during the last quarter. Principal Financial Group Inc. raised its position in Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank’s stock worth $63,514,000 after purchasing an additional 14,916 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Bank of New York Mellon during the 1st quarter worth about $6,087,000. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’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 transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction on Tuesday, October 15th. The shares were 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 directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $77.58 on Friday. The business has a 50-day simple moving average of $73.56 and a 200 day simple moving average of $65.66. The Bank of New York Mellon Co. has a one year low of $46.04 and a one year high of $80.29. 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 firm has a market capitalization of $56.41 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.90 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $4.52 billion. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 2.42%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on 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. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday. UBS Group lifted their target price on shares of 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. Finally, Wells Fargo & Company upped their price target on shares of 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. Six 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 an average rating of “Moderate Buy” and an average price target of $77.08.

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.