3,046 Shares in The Bank of New York Mellon Co. (NYSE:BK) Bought by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the third quarter, Holdings Channel reports. The institutional investor acquired 3,046 shares of the bank’s stock, valued at approximately $219,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% during 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 in the last quarter. Olistico Wealth LLC bought a new position in Bank of New York Mellon during the second quarter worth about $30,000. Clearstead Trust LLC acquired a new position in Bank of New York Mellon in the second quarter valued at about $32,000. Family Firm Inc. bought a new stake in shares of Bank of New York Mellon in the second quarter worth about $40,000. Finally, Fortitude Family Office LLC raised its position in shares of 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 purchasing an additional 346 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were 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 approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon 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 sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at approximately $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. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

NYSE:BK opened at $81.75 on Thursday. 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 firm has a fifty day simple moving average of $75.67 and a 200 day simple moving average of $67.20. The Bank of New York Mellon Co. has a 1-year low of $46.81 and a 1-year high of $82.08. The stock has a market capitalization of $59.44 billion, a PE ratio of 17.77, a P/E/G ratio of 0.93 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 earnings per share for the quarter, topping 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 company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.30%. Bank of New York Mellon’s dividend payout ratio is 40.87%.

Analysts Set New Price Targets

A number of analysts recently issued reports on BK shares. Evercore ISI increased their target price on 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. JPMorgan Chase & Co. raised their price objective on shares of 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Morgan Stanley upped their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.15.

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.