The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 29.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 520,921 shares of the bank’s stock after purchasing an additional 118,792 shares during the period. Bridgewater Associates LP owned 0.07% of Bank of New York Mellon worth $37,433,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the period. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth $30,000. Clearstead Trust LLC bought a new stake in shares of Bank of New York Mellon during the second quarter valued at about $32,000. Family Firm Inc. acquired a new stake in Bank of New York Mellon in the second quarter worth about $40,000. Finally, Fortitude Family Office LLC increased its stake in Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock valued at $44,000 after buying an additional 346 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total value of $1,907,750.00. Following the completion of the sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. UBS Group raised their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Evercore ISI lifted their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $78.15.

Bank of New York Mellon Stock Up 0.1 %

Shares of Bank of New York Mellon stock opened at $81.27 on Wednesday. The stock has a 50-day simple moving average of $75.46 and a 200-day simple moving average of $67.10. The Bank of New York Mellon Co. has a 52-week low of $46.81 and a 52-week high of $81.62. The firm has a market cap of $59.09 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 0.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio is presently 40.87%.

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.