Alliance Wealth Management Group bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,800 shares of the bank’s stock, valued at approximately $254,000.

A number of other institutional investors also recently made changes to their positions in the business. First Interstate Bank lifted its holdings in shares of The Bank of New York Mellon by 56.2% during the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after buying an additional 842 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in shares of The Bank of New York Mellon by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after buying an additional 7 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of The Bank of New York Mellon by 15.5% during the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock worth $138,000 after buying an additional 363 shares during the last quarter. Burt Wealth Advisors lifted its holdings in shares of The Bank of New York Mellon by 2,186.7% during the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock worth $139,000 after buying an additional 2,624 shares during the last quarter. Finally, Horan Capital Advisors LLC. acquired a new position in shares of The Bank of New York Mellon during the third quarter worth approximately $139,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

The Bank of New York Mellon Co. (BK) traded up $0.01 during trading on Thursday, reaching $52.43. The company’s stock had a trading volume of 4,545,500 shares, compared to its average volume of 4,575,817. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 1 year low of $43.85 and a 1 year high of $55.29. The firm has a market capitalization of $53,679.23, a price-to-earnings ratio of 15.11, a P/E/G ratio of 1.91 and a beta of 1.22.

The Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.01. The Bank of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. sell-side analysts forecast that The Bank of New York Mellon Co. will post 3.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.24 per share. The ex-dividend date was Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 1.83%. The Bank of New York Mellon’s dividend payout ratio is currently 28.07%.

In other news, Director Edward P. Garden sold 1,031,157 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $53.13, for a total transaction of $54,785,371.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total value of $1,139,407.28. Following the sale, the insider now owns 181,815 shares in the company, valued at approximately $9,319,836.90. The disclosure for this sale can be found here. Insiders have sold 7,670,182 shares of company stock valued at $402,890,932 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

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BK has been the subject of a number of recent research reports. Zacks Investment Research lowered The Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada restated a “hold” rating and issued a $58.00 target price on shares of The Bank of New York Mellon in a research note on Thursday, August 31st. UBS Group AG lowered The Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research note on Friday, September 8th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $58.00 target price (up from $52.85) on shares of The Bank of New York Mellon in a research note on Friday, October 20th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $56.00 target price on shares of The Bank of New York Mellon in a research note on Friday, September 15th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $55.28.

The Bank of New York Mellon Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Institutional Ownership by Quarter for The Bank of New York Mellon (NYSE:BK)

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