Holocene Advisors LP Purchases New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Holocene Advisors LP acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 122,472 shares of the bank's stock, valued at approximately $8,801,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BK. FMR LLC boosted its stake in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank's stock worth $1,389,680,000 after buying an additional 8,512,404 shares during the period. Marshall Wace LLP grew its stake in Bank of New York Mellon by 99.4% in the second quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock valued at $157,583,000 after purchasing an additional 1,311,969 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Bank of New York Mellon by 6,040.9% in the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock valued at $62,154,000 after purchasing an additional 1,020,906 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Bank of New York Mellon by 83.7% during the third quarter. Bank of Montreal Can now owns 1,323,755 shares of the bank's stock worth $94,913,000 after acquiring an additional 603,191 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Bank of New York Mellon by 89.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank's stock worth $72,835,000 after acquiring an additional 574,319 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

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

Bank of New York Mellon Stock Down 0.8 %

NYSE BK traded down $0.64 on Wednesday, hitting $80.21. 2,761,244 shares of the stock traded hands, compared to its average volume of 3,824,700. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a 50-day moving average of $76.59 and a 200 day moving average of $67.99. The Bank of New York Mellon Co. has a twelve month low of $47.48 and a twelve month high of $82.72. The company has a market capitalization of $58.32 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 0.92 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $4.52 billion. As a group, analysts expect that The Bank of New York Mellon Co. will post 5.84 earnings per share 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 $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.34%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Analysts Set New Price Targets

A number of brokerages recently commented on BK. The Goldman Sachs Group upped their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Royal Bank of Canada reissued a "sector perform" rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Barclays increased their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Finally, Wells Fargo & Company upped their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.77.

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.