United Asset Strategies Inc. Acquires Shares of 25,138 The Bank of New York Mellon Co. (NYSE:BK)

United Asset Strategies Inc. bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,138 shares of the bank’s stock, valued at approximately $1,806,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Entropy Technologies LP acquired a new stake in Bank of New York Mellon during the first quarter worth approximately $1,027,000. QRG Capital Management Inc. increased its position in shares of Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after purchasing an additional 8,204 shares during the period. Wakefield Asset Management LLLP acquired a new position in Bank of New York Mellon in the first quarter valued at about $3,740,000. Bessemer Group Inc. lifted its position in Bank of New York Mellon by 128.8% during the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock worth $1,771,000 after purchasing an additional 17,312 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the firm’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 completion of the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s 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 completion of the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This trade represents a 0.00 % 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 insiders.

Bank of New York Mellon Trading Down 1.0 %

NYSE BK traded down $0.77 during trading hours on Thursday, reaching $75.16. The company’s stock had a trading volume of 556,579 shares, compared to its average volume of 3,850,828. The firm has a fifty day simple moving average of $71.63 and a 200-day simple moving average of $64.21. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 52 week low of $42.18 and a 52 week high of $78.03. The stock has a market cap of $56.21 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.16 and a beta of 1.08.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.50%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Analyst Ratings Changes

Several brokerages have recently commented on BK. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Citigroup upped their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price 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.