Bank Of New York Mellon Corporation (The) (BK) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 17.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 26,622 shares of the bank’s stock after acquiring an additional 3,955 shares during the period. Pacer Advisors Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $1,411,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BK. First Interstate Bank raised its position in shares of Bank Of New York Mellon Corporation (The) by 56.2% in the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock valued at $119,000 after buying an additional 842 shares during the last quarter. Hudock Capital Group LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after buying an additional 7 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 15.5% in the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after buying an additional 363 shares during the last quarter. Burt Wealth Advisors raised its position in shares of Bank Of New York Mellon Corporation (The) by 2,186.7% in the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock valued at $139,000 after buying an additional 2,624 shares during the last quarter. Finally, Fiduciary Trust Co. acquired a new stake in shares of Bank Of New York Mellon Corporation (The) in the second quarter valued at about $168,000. Institutional investors own 82.44% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (BK) traded up $0.05 during mid-day trading on Tuesday, reaching $52.52. 4,558,100 shares of the company’s stock traded hands, compared to its average volume of 4,574,481. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $54,260.00, a price-to-earnings ratio of 15.12, a PEG ratio of 1.98 and a beta of 1.21. Bank Of New York Mellon Corporation has a one year low of $43.85 and a one year high of $55.29.

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

The business also recently announced 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. This represents a $0.96 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.24%.

In other news, Chairman Gerald L. Hassell sold 24,280 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $51.69, for a total value of $1,255,033.20. Following the completion of the transaction, the chairman now owns 857,899 shares of the company’s stock, valued at $44,344,799.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $51.26, for a total transaction of $1,139,407.28. Following the completion of the transaction, the insider now directly owns 181,815 shares of the company’s stock, valued at approximately $9,319,836.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,876,390 shares of company stock valued at $361,148,976. 3.60% of the stock is currently owned by insiders.

BK has been the subject of a number of recent research reports. UBS AG cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research report on Friday, September 8th. Zacks Investment Research raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, July 24th. Morgan Stanley upped their price objective on shares of Bank Of New York Mellon Corporation (The) from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $58.00 price objective (up previously from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, October 20th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a report on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Bank Of New York Mellon Corporation (The) presently has a consensus rating of “Hold” and a consensus target price of $55.28.

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Bank Of New York Mellon Corporation (The) Company 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 Bank Of New York Mellon Corporation (The) (NYSE:BK)

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