World Investment Advisors LLC Acquires Shares of 36,425 The Bank of New York Mellon Co. (NYSE:BK)

World Investment Advisors LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 36,425 shares of the bank’s stock, valued at approximately $2,617,000.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in Bank of New York Mellon by 18.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 64,127 shares of the bank’s stock valued at $3,841,000 after purchasing an additional 10,114 shares during the last quarter. Blue Trust Inc. grew its position in shares of Bank of New York Mellon by 86.9% during the 2nd quarter. Blue Trust Inc. now owns 856 shares of the bank’s stock valued at $49,000 after buying an additional 398 shares during the last quarter. Brookstone Capital Management raised its stake in Bank of New York Mellon by 3.1% during the second quarter. Brookstone Capital Management now owns 132,448 shares of the bank’s stock worth $8,489,000 after acquiring an additional 3,940 shares during the period. OFI Invest Asset Management lifted its holdings in Bank of New York Mellon by 2.2% in the second quarter. OFI Invest Asset Management now owns 21,378 shares of the bank’s stock worth $1,195,000 after acquiring an additional 457 shares during the last quarter. Finally, Williams Financial LLC acquired a new position in Bank of New York Mellon in the second quarter valued at approximately $587,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.9 %

Bank of New York Mellon stock opened at $78.83 on Friday. The Bank of New York Mellon Co. has a 12-month low of $50.87 and a 12-month high of $82.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $57.32 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.91 and a beta of 1.07. The firm has a 50 day simple moving average of $77.82 and a 200-day simple moving average of $68.96.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 40.87%.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This trade represents a 24.90 % 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 Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value 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 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley upgraded Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $82.00 to $94.00 in a research report on Monday, December 9th. Citigroup raised their target price on Bank of New York Mellon from $75.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group upped 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 report on Thursday, September 26th. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.00.

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.