Pacer Advisors Inc. Has $8.39 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Pacer Advisors Inc. grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 119.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,690 shares of the bank’s stock after purchasing an additional 63,427 shares during the period. Pacer Advisors Inc.’s holdings in Bank of New York Mellon were worth $8,385,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its position in Bank of New York Mellon by 586.4% during 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 bought a new stake in shares of Bank of New York Mellon during the second quarter worth $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at $32,000. Family Firm Inc. bought a new position in shares of Bank of New York Mellon in the second quarter valued at about $40,000. Finally, Fortitude Family Office LLC lifted its position in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 owns 157,455 shares in the company, valued at $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.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target 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. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a report on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, 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. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $77.23.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $80.14 on Friday. The Bank of New York Mellon Co. has a 12 month low of $46.81 and a 12 month high of $80.29. 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 company has a market capitalization of $58.27 billion, a PE ratio of 17.42, a PEG ratio of 0.90 and a beta of 1.07. The stock’s fifty day simple moving average is $75.03 and its 200 day simple moving average is $66.71.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share 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 business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.52 billion. On average, research analysts predict 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. Investors of record on Monday, October 21st were given a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.35%. Bank of New York Mellon’s dividend payout ratio is currently 40.87%.

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.