Steward Partners Investment Advisory LLC Takes Position in Bank Of New York Mellon Corporation (The) (BK)

Steward Partners Investment Advisory LLC bought a new stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,121 shares of the bank’s stock, valued at approximately $748,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Invictus RG bought a new position in shares of Bank Of New York Mellon in the third quarter valued at approximately $102,000. First Interstate Bank raised its position in shares of Bank Of New York Mellon 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 purchasing an additional 842 shares during the period. Hudock Capital Group LLC raised its position in shares of Bank Of New York Mellon 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 purchasing an additional 7 shares during the period. Advisory Services Network LLC raised its position in shares of Bank Of New York Mellon 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 purchasing an additional 363 shares during the period. Finally, Burt Wealth Advisors raised its position in shares of Bank Of New York Mellon 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 purchasing an additional 2,624 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

BK has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Bank Of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Royal Bank of Canada reissued a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon in a research report on Thursday, August 31st. UBS lowered shares of Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research report on Friday, September 8th. Goldman Sachs Group reissued a “buy” rating and issued a $58.00 price target (up previously from $52.85) on shares of Bank Of New York Mellon in a research report on Friday, October 20th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $56.00 target price on shares of Bank Of New York Mellon in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Bank Of New York Mellon has a consensus rating of “Hold” and a consensus price target of $55.28.

Bank Of New York Mellon Corporation (NYSE:BK) opened at $54.20 on Friday. Bank Of New York Mellon Corporation has a 52-week low of $43.85 and a 52-week high of $55.40. The stock has a market cap of $55,501.99, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.97 and a beta of 1.22. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69.

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

In other Bank Of New York Mellon news, Vice Chairman Brian T. Shea sold 22,228 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were 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 of the company’s stock, valued at approximately $9,319,836.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward P. Garden sold 1,031,157 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $53.13, for a total transaction of $54,785,371.41. The disclosure for this sale can be found here. Insiders sold a total of 7,708,334 shares of company stock worth $404,956,863 in the last three months. Insiders own 3.60% of the company’s stock.

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Bank Of New York Mellon 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.

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

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