United Asset Strategies Inc. Invests $1.81 Million in The Bank of New York Mellon Co. (NYSE:BK)

United Asset Strategies Inc. purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,138 shares of the bank’s stock, valued at approximately $1,806,000.

Several other hedge funds have also added to or reduced their stakes in BK. Entropy Technologies LP bought a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $1,027,000. QRG Capital Management Inc. grew its holdings in Bank of New York Mellon by 6.9% during the 1st quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after acquiring an additional 8,204 shares during the period. Wakefield Asset Management LLLP acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at $3,740,000. Bessemer Group Inc. boosted its position in shares of Bank of New York Mellon by 128.8% in the 1st 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 last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Bank of New York Mellon by 4.2% in the 2nd 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 last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated 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 owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 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 sale, the vice president now 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 SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s stock in a transaction 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 approximately $5,754,079.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 1.0 %

Shares of NYSE:BK traded down $0.77 during midday trading on Thursday, reaching $75.16. The company had a trading volume of 556,579 shares, compared to its average volume of 3,850,828. The Bank of New York Mellon Co. has a 1-year low of $42.18 and a 1-year high of $78.03. The stock has a market cap of $56.21 billion, a PE ratio of 17.58, a P/E/G 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 business’s 50 day moving average price is $71.63 and its 200 day moving average price is $64.21.

Bank of New York Mellon Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on BK. Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. UBS Group raised their price target 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, October 8th. Evercore ISI boosted their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Citigroup lifted their price target 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. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $76.69.

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.