Transamerica Financial Advisors Inc. Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Transamerica Financial Advisors Inc. bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the third quarter, Holdings Channel.com reports. The fund bought 14,048 shares of the bank’s stock, valued at approximately $1,010,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. McClarren Financial Advisors Inc. grew its stake in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares during the period. Olistico Wealth LLC purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter worth about $30,000. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $32,000. Family Firm Inc. purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $40,000. Finally, Fortitude Family Office LLC boosted its stake in Bank of New York Mellon by 130.6% during the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after acquiring an additional 346 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.1 %

Shares of BK stock opened at $81.27 on Wednesday. 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 Bank of New York Mellon Co. has a 12-month low of $46.81 and a 12-month high of $81.62. The stock has a market capitalization of $59.09 billion, a P/E ratio of 17.67, a P/E/G ratio of 0.92 and a beta of 1.07. The firm’s 50 day moving average is $75.46 and its 200 day moving average is $67.10.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping 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 company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Research analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BK. Citigroup raised their target price on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Barclays raised their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Morgan Stanley upped their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.15.

Insider Activity at Bank of New York Mellon

In other 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

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.