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

OmniStar Financial Group Inc. acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,412 shares of the bank’s stock, valued at approximately $966,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth $30,000. Kathleen S. Wright Associates Inc. bought a new position in Bank of New York Mellon during the first quarter worth about $32,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $32,000. Family Firm Inc. bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $40,000. Finally, Grove Bank & Trust raised its position in shares of Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after acquiring an additional 144 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Down 1.4 %

BK traded down $1.09 during trading on Friday, reaching $76.66. 1,198,931 shares of the stock were exchanged, compared to its average volume of 3,873,170. The stock’s 50 day moving average price is $69.55 and its two-hundred day moving average price is $62.93. The Bank of New York Mellon Co. has a twelve month low of $41.15 and a twelve month high of $78.03. The stock has a market cap of $57.33 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.45%. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the 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 directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the 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 transaction, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BK has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group raised their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays upped their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.69.

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.