MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Takes $340,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in The Bank of New York Mellon Co. (NYSE:BK) during the third quarter, according to its most recent filing with the SEC. The firm bought 4,731 shares of the bank’s stock, valued at approximately $340,000.

Several other hedge funds have also bought and sold shares of the business. Olistico Wealth LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter worth approximately $30,000. Kathleen S. Wright Associates Inc. purchased a new stake in Bank of New York Mellon in the 1st quarter valued at $32,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at $32,000. Family Firm Inc. purchased a new position in Bank of New York Mellon during the 2nd quarter worth $40,000. Finally, Blue Trust Inc. grew its stake in shares of Bank of New York Mellon by 86.9% in the 2nd quarter. Blue Trust Inc. now owns 856 shares of the bank’s stock worth $49,000 after acquiring an additional 398 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BK. UBS Group boosted their price target 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. Evercore ISI boosted their target price on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday. Barclays increased their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, Morgan Stanley raised their target price on 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. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.69.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. 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 through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Price Performance

NYSE BK opened at $76.51 on Tuesday. The company has a market cap of $57.22 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The firm’s 50-day simple moving average is $68.67 and its two-hundred day simple moving average is $62.60. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $76.61.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period last year, the firm earned $1.38 EPS. Bank of New York Mellon’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that The Bank of New York Mellon Co. will post 5.66 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared 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. This represents a $1.88 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

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.