Bridgewater Associates LP Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Bridgewater Associates LP raised its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 29.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 520,921 shares of the bank's stock after buying an additional 118,792 shares during the quarter. Bridgewater Associates LP owned 0.07% of Bank of New York Mellon worth $37,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. increased its position in shares of Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after buying an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon in the second quarter worth about $30,000. Clearstead Trust LLC acquired a new stake in shares of Bank of New York Mellon during the second quarter worth about $32,000. Fortitude Family Office LLC lifted its holdings in shares of 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 purchasing an additional 346 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $46,000. Institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. 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. Citigroup boosted their price objective 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. Wells Fargo & Company increased their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an "equal weight" rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, StockNews.com upgraded Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $78.15.

Bank of New York Mellon Stock Performance

BK traded up $0.52 on Wednesday, reaching $81.79. The company had a trading volume of 1,562,489 shares, compared to its average volume of 3,838,691. The company's fifty day moving average is $75.46 and its 200 day moving average is $67.10. 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 stock has a market cap of $59.47 billion, a P/E ratio of 17.67, a P/E/G ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a fifty-two week low of $46.81 and a fifty-two week high of $82.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, analysts predict 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 business also recently declared 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. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business's stock in a transaction on 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 owns 75,404 shares in the company, valued at approximately $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. 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.