The Bank of New York Mellon Co. (NYSE:BK) Stake Boosted by Centiva Capital LP

Centiva Capital LP increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 35.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 59,669 shares of the bank’s stock after acquiring an additional 15,696 shares during the period. Centiva Capital LP’s holdings in Bank of New York Mellon were worth $4,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BK. Cinctive Capital Management LP bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $1,786,000. Ascent Group LLC grew its position in Bank of New York Mellon by 81.3% in the 3rd quarter. Ascent Group LLC now owns 12,666 shares of the bank’s stock worth $910,000 after purchasing an additional 5,680 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Bank of New York Mellon by 583.0% in the third quarter. Benjamin Edwards Inc. now owns 10,306 shares of the bank’s stock valued at $741,000 after purchasing an additional 8,797 shares during the period. Point72 Hong Kong Ltd raised its holdings in shares of Bank of New York Mellon by 1,340.6% during the third quarter. Point72 Hong Kong Ltd now owns 15,400 shares of the bank’s stock valued at $1,107,000 after buying an additional 14,331 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $7,518,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred 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 transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s 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 sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BK. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group raised their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group upped their price target on shares of 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $78.15.

Bank of New York Mellon Stock Up 0.2 %

NYSE BK opened at $81.87 on Monday. The company has a market capitalization of $59.53 billion, a P/E ratio of 17.80, a PEG ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $47.44 and a 12 month high of $82.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50 day simple moving average is $76.07 and its 200 day simple moving average is $67.59.

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

Bank of New York Mellon Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.30%. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.