Fifth Third Wealth Advisors LLC Grows Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Fifth Third Wealth Advisors LLC grew its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 50.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,372 shares of the bank's stock after purchasing an additional 6,465 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Bank of New York Mellon were worth $1,392,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Blair William & Co. IL raised its position in shares of Bank of New York Mellon by 1.6% during the first quarter. Blair William & Co. IL now owns 21,393 shares of the bank's stock worth $1,233,000 after purchasing an additional 338 shares during the period. Acadian Asset Management LLC increased its position in shares of Bank of New York Mellon by 160,472.7% during the first quarter. Acadian Asset Management LLC now owns 52,989 shares of the bank's stock worth $3,051,000 after acquiring an additional 52,956 shares in the last quarter. Covestor Ltd raised its holdings in shares of Bank of New York Mellon by 31.5% in the 1st quarter. Covestor Ltd now owns 1,398 shares of the bank's stock worth $80,000 after acquiring an additional 335 shares during the last quarter. Bessemer Group Inc. grew its position in Bank of New York Mellon by 128.8% in the 1st quarter. Bessemer Group Inc. now owns 30,755 shares of the bank's stock worth $1,771,000 after purchasing an additional 17,312 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in Bank of New York Mellon in the first quarter worth about $261,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays increased their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. 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 research report on Monday, October 14th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, 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 report on Tuesday, October 8th. Five equities 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.23.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated 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 owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

BK stock traded up $0.25 during trading on Wednesday, reaching $77.86. The stock had a trading volume of 3,482,618 shares, compared to its average volume of 3,854,446. 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 firm has a market cap of $56.61 billion, a PE ratio of 16.87, a PEG ratio of 0.89 and a beta of 1.07. The stock's 50 day moving average is $74.41 and its two-hundred day moving average is $66.32. The Bank of New York Mellon Co. has a 52 week low of $46.71 and a 52 week 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 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.52 billion. As a group, equities analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio (DPR) is currently 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.