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Bank of Nova Scotia has a $53.26 million equity position in The Bank of New York Mellon Co. (NYSE:BK)

Bank of Nova Scotia has sold its interest in The Bank of New York Mellon Co. (NYSE:BK – Free Report) increased 36.6% during the fourth quarter, the company said in its most recent disclosure to the SEC. The company owned 1,023,257 shares of the bank, after purchasing an additional 274,064 shares during the quarter. Bank of Nova Scotia owned 0.13% of Bank of New York Mellon worth $53,259,000, as shown in its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently changed their holdings of BK. Assenagon Asset Management SA increased its position in Bank of New York Mellon by 3.1% in the third quarter. Assenagon Asset Management SA now owns 69,858 shares of the bank’s stock valued at $2,979,000 after purchasing an additional 2,098 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Bank of New York Mellon by 7.9% during the third quarter. Alabama-based Retirement Systems now owns 176,090 shares of the bank’s stock worth $7,510,000 after purchasing an additional 12,879 shares during the period. Savant Capital LLC increased its holdings in shares of Bank of New York Mellon by 105.5% in the 3rd quarter. Savant Capital LLC now owns 18,110 shares of the bank’s stock worth $772,000 after purchasing an additional 9,296 shares in the last quarter. Atria Investments Inc grew its position in Bank of New York Mellon by 1.4% in the third quarter. Atria Investments Inc now owns 43,404 shares of the bank’s stock valued at $1,851,000 after purchasing an additional 616 shares during the period. Finally, Great Lakes Advisors LLC increased its holdings in Bank of New York Mellon by 14.0% during the 3rd quarter. Great Lakes Advisors LLC now owns 91,509 shares of the bank’s stock valued at $3,903,000 after purchasing an additional 11,228 shares in the last quarter. 85.31% of the shares are currently held by institutional investors.

Insider transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock sold at an average price of $57.65, for a total value of $901,818.95. Following the transaction, the vice president now directly owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction on Tuesday, May 7. The shares sold at an average price of $57.93, for a total value of $360,034.95. Following the transaction, the insider now owns 24,346 shares of the company’s stock, valued at approximately $1,410,363.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon in a transaction on Wednesday, May 8. The stock sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The explanation of this sale can be found here. Last quarter, insiders sold 115,928 shares of the company’s stock, valued at $6,475,216. Currently, 0.14% of the shares are owned by company insiders.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK rose $1.19 in midday trading on Friday, hitting $59.61. There were 5,168,619 shares of the company traded, compared to the average volume of 2,641,452. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $59.70. The company’s fifty-day moving average price is $57.34 and its two-hundred-day moving average price is $54.45. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The company has a market cap of $44.58 billion, a price-to-earnings ratio of 14.54, a price-to-earnings growth ratio of 1.22, and a beta of 1.11.

Bank of New York Mellon (NYSE:BK – Get Free Report) last reported its quarterly results on Tuesday, April 16. The bank reported earnings per share of $1.29 for the quarter, beating analyst consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company’s revenue rose 3.8% year over year this quarter. During the same period last year, the company posted earnings per share of $1.13. On average, equity analysts expect The Bank of New York Mellon Co. will post earnings per share of 5.45 for the current year.

Bank of New York Mellon dividend announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9. Shareholders of record received a dividend of $0.42 per share on Friday, April 26. The ex-dividend date was Thursday, April 25. This represents a dividend of $1.68 annually and a dividend yield of 2.82%. Bank of New York Mellon’s dividend payout ratio (DPR) currently stands at 40.98%.

Wall Street analysts predict growth

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18. Citigroup raised their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14. Evercore ISI raised their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4. Morgan Stanley raised their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equalweight” rating in a research report on Thursday, April 18. Finally, Bank of America raised their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $60.17.

Read our latest research report on BK

Bank of New York Mellon Company Profile

(Free report)

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 provides custody, trust and custodian services, accounting, exchange traded funds, middle office solutions, transfer agencies, private equity and real estate fund services, foreign exchange, securities lending, liquidity/lending services and data analytics.

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Would you like to see which other hedge funds own BK? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for The Bank of New York Mellon Co. (NYSE:BK – Free Report).

Quarterly Institutional Ownership for Bank of New York Mellon (NYSE:BK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff before publication. Send any questions or comments about this story to [email protected].

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