Ameritas Advisory Services LLC Takes $249,000 Position in The Bank of New York Mellon Corporation $BK

Ameritas Advisory Services LLC bought a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,729 shares of the bank's stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BK. Nuveen LLC purchased a new position in Bank of New York Mellon in the 1st quarter valued at $773,627,000. AustralianSuper Pty Ltd purchased a new position in Bank of New York Mellon in the 1st quarter valued at $92,502,000. Goldman Sachs Group Inc. lifted its holdings in Bank of New York Mellon by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank's stock valued at $423,858,000 after purchasing an additional 1,052,145 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Bank of New York Mellon by 257.6% in the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank's stock valued at $103,685,000 after purchasing an additional 890,593 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Bank of New York Mellon by 37.7% in the 1st quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank's stock valued at $266,349,000 after purchasing an additional 887,361 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

BK has been the topic of a number of research reports. Morgan Stanley raised their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the company an "overweight" rating in a report on Monday, September 29th. The Goldman Sachs Group raised their target price on Bank of New York Mellon from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Bank of New York Mellon in a research note on Saturday, September 27th. Truist Financial raised their target price on Bank of New York Mellon from $109.00 to $118.00 and gave the stock a "hold" rating in a research note on Thursday, October 2nd. Finally, TD Cowen initiated coverage on Bank of New York Mellon in a research note on Thursday, September 25th. They issued a "buy" rating for the company. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.77.

Bank of New York Mellon Stock Up 0.4%

Shares of NYSE:BK opened at $106.89 on Wednesday. The business has a 50-day moving average price of $104.82 and a 200 day moving average price of $93.31. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $75.38 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.00 and a beta of 1.13. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $1.51 EPS. Sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, July 25th. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's dividend payout ratio is 32.37%.

Bank of New York Mellon 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.

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