Meeder Asset Management Inc. Has $20.50 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Meeder Asset Management Inc. lifted its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 27.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 285,307 shares of the bank's stock after buying an additional 60,579 shares during the period. Bank of New York Mellon makes up 1.4% of Meeder Asset Management Inc.'s holdings, making the stock its 16th largest position. Meeder Asset Management Inc.'s holdings in Bank of New York Mellon were worth $20,502,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BK. Marshall Wace LLP boosted its position in shares of Bank of New York Mellon by 99.4% in the 2nd 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 period. Panagora Asset Management Inc. boosted its position in Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock worth $62,154,000 after acquiring an additional 1,020,906 shares during the period. Swedbank AB acquired a new stake in Bank of New York Mellon during the 1st quarter worth about $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Bank of New York Mellon by 89.5% during the 2nd 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 period. Finally, Canada Pension Plan Investment Board boosted its position in Bank of New York Mellon by 69.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank's stock worth $80,529,000 after acquiring an additional 574,185 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of BK stock traded down $1.05 during trading on Tuesday, reaching $77.60. The company had a trading volume of 2,168,312 shares, compared to its average volume of 3,856,105. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The firm's 50 day simple moving average is $74.41 and its two-hundred day simple moving average is $66.32. The company has a market capitalization of $56.42 billion, a PE ratio of 16.87, a PEG ratio of 0.89 and a beta of 1.07. The Bank of New York Mellon Co. has a one year low of $46.71 and a one year high of $80.29.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BK. UBS Group raised their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Evercore ISI raised their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price target 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. Morgan Stanley raised their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Finally, StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.23.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 sale, the executive vice president now owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,259,843.25. Following the completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

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.