Fmr LLC Boosts Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

FMR LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 78.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,338,722 shares of the bank's stock after acquiring an additional 8,512,404 shares during the period. FMR LLC owned about 2.66% of Bank of New York Mellon worth $1,389,680,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BK. Ameriprise Financial Inc. grew its holdings in Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock worth $623,891,000 after acquiring an additional 421,161 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Bank of New York Mellon by 2.2% during the second quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank's stock valued at $490,640,000 after purchasing an additional 179,503 shares in the last quarter. Legal & General Group Plc raised its stake in Bank of New York Mellon by 1.2% in the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank's stock worth $482,597,000 after buying an additional 97,286 shares in the last quarter. LSV Asset Management lifted its holdings in Bank of New York Mellon by 3.9% during the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank's stock worth $453,315,000 after buying an additional 286,820 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Bank of New York Mellon by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank's stock valued at $434,370,000 after acquiring an additional 454,151 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

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

Analyst Ratings Changes

BK has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. Citigroup increased their price target on shares of Bank of New York Mellon from $75.00 to $82.00 and gave the company a "neutral" rating in a research report on Monday. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. UBS Group boosted their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.15.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.48 during mid-day trading on Wednesday, hitting $81.75. The stock had a trading volume of 2,823,686 shares, compared to its average volume of 3,844,544. The company has a 50 day moving average of $75.67 and a two-hundred day moving average of $67.20. The Bank of New York Mellon Co. has a twelve month low of $46.81 and a twelve month high of $82.08. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $59.44 billion, a PE ratio of 17.77, a PEG ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Research analysts predict that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. Bank of New York Mellon's dividend payout ratio is presently 40.87%.

About Bank of New York Mellon

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.