Forsta AP Fonden Raises Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Forsta AP Fonden grew its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 5.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,200 shares of the bank’s stock after buying an additional 11,500 shares during the period. Forsta AP Fonden’s holdings in Bank of New York Mellon were worth $16,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Bank of New York Mellon by 10.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,652 shares of the bank’s stock worth $8,722,000 after purchasing an additional 11,325 shares during the period. Joel Isaacson & Co. LLC boosted its stake in shares of Bank of New York Mellon by 9.6% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 33,534 shares of the bank’s stock worth $2,410,000 after purchasing an additional 2,948 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of Bank of New York Mellon by 11.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 5,228 shares of the bank’s stock worth $376,000 after purchasing an additional 530 shares during the period. Burke & Herbert Bank & Trust Co. purchased a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $222,000. Finally, Ballentine Partners LLC boosted its stake in shares of Bank of New York Mellon by 10.6% during the 3rd quarter. Ballentine Partners LLC now owns 20,960 shares of the bank’s stock worth $1,506,000 after purchasing an additional 2,015 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Finally, Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $76.69.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the business’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 $12,040,583.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents 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 company insiders.

Bank of New York Mellon Trading Down 1.7 %

NYSE:BK opened at $75.20 on Friday. The Bank of New York Mellon Co. has a one year low of $41.44 and a one year high of $78.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $56.24 billion, a P/E ratio of 17.41, a P/E/G ratio of 1.16 and a beta of 1.08. The firm has a 50-day simple moving average of $70.98 and a 200-day simple moving average of $63.77.

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 $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.50%. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

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.