Atomi Financial Group Inc. Buys 1,971 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Atomi Financial Group Inc. increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 30.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,489 shares of the bank’s stock after acquiring an additional 1,971 shares during the period. Atomi Financial Group Inc.’s holdings in Bank of New York Mellon were worth $610,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BK. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth $30,000. Able Wealth Management LLC bought a new stake in Bank of New York Mellon during the 4th quarter worth about $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon during the 1st quarter valued at about $32,000. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $32,000. Finally, Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup raised their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. increased their target price 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. UBS Group boosted their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. Finally, Evercore ISI upped their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.92.

Bank of New York Mellon Trading Up 0.6 %

BK opened at $74.45 on Friday. The stock has a market capitalization of $55.67 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.24 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $74.47. The firm’s fifty day simple moving average is $67.95 and its 200 day simple moving average is $62.18.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

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.