Point72 Hong Kong Ltd Grows Stake in The Bank of New York Mellon Co. (NYSE:BK)

Point72 Hong Kong Ltd grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 1,340.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,400 shares of the bank’s stock after buying an additional 14,331 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Bank of New York Mellon were worth $1,107,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BK. Studio Investment Management LLC raised its stake in Bank of New York Mellon by 2.1% in the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank’s stock worth $477,000 after buying an additional 134 shares in the last quarter. Stanley Laman Group Ltd. increased its holdings in shares of Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after acquiring an additional 135 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Bank of New York Mellon by 2.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock worth $505,000 after acquiring an additional 137 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in shares of Bank of New York Mellon by 1.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock worth $928,000 after purchasing an additional 142 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in Bank of New York Mellon by 2.7% during the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank’s stock valued at $393,000 after purchasing an additional 143 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.2 %

Shares of NYSE:BK opened at $81.87 on Monday. 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 Bank of New York Mellon Co. has a 52-week low of $47.44 and a 52-week high of $82.72. The stock has a market cap of $59.53 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 0.93 and a beta of 1.07. The business has a 50-day moving average price of $76.07 and a 200-day moving average price of $67.59.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Equities analysts predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

Insider Activity at Bank of New York Mellon

In related news, 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 transaction of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on BK shares. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $78.15.

Bank of New York Mellon Company 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.