AIA Group Ltd Acquires 467 Shares of The Bank of New York Mellon Co. (NYSE:BK)

AIA Group Ltd grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,122 shares of the bank’s stock after acquiring an additional 467 shares during the period. AIA Group Ltd’s holdings in Bank of New York Mellon were worth $2,236,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Bank of New York Mellon by 17.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,528 shares of the bank’s stock valued at $319,000 after acquiring an additional 805 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Bank of New York Mellon by 53.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 69,121 shares of the bank’s stock worth $3,983,000 after buying an additional 23,940 shares during the period. Empowered Funds LLC raised its stake in Bank of New York Mellon by 28.1% during the 1st quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock valued at $612,000 after purchasing an additional 2,328 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Bank of New York Mellon by 813.5% during the first quarter. SG Americas Securities LLC now owns 224,150 shares of the bank’s stock valued at $12,916,000 after buying an additional 199,612 shares during the last quarter. Finally, Wealthspire Advisors LLC lifted its position in shares of Bank of New York Mellon by 10.4% in the 1st quarter. Wealthspire Advisors LLC now owns 10,680 shares of the bank’s stock worth $615,000 after acquiring an additional 1,005 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.7 %

Shares of NYSE:BK opened at $77.11 on Friday. 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 firm has a market cap of $56.07 billion, a P/E ratio of 16.76, a P/E/G ratio of 0.88 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $44.93 and a 12 month high of $80.29. The company’s 50-day moving average price is $72.95 and its two-hundred day moving average price is $65.17.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.79 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.44%. Bank of New York Mellon’s payout ratio is 40.87%.

Insider Activity

In other news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction on 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 owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction 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 of the company’s stock, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction 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. This trade represents a 0.00 % 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.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. UBS Group upped their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.69.

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.