Franklin Resources Inc. Has $172.35 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Franklin Resources Inc. raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,252,729 shares of the bank's stock after buying an additional 173,347 shares during the quarter. Franklin Resources Inc. owned about 0.31% of Bank of New York Mellon worth $172,348,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Studio Investment Management LLC lifted its holdings in shares of Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock worth $477,000 after buying an additional 134 shares during the last quarter. Stanley Laman Group Ltd. lifted its holdings in shares of Bank of New York Mellon by 2.2% during the third quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after buying an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Bank of New York Mellon by 2.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock worth $505,000 after buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Bank of New York Mellon by 1.1% during the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock valued at $928,000 after purchasing an additional 142 shares during the period. Finally, Sigma Planning Corp increased its position in shares of Bank of New York Mellon by 2.7% during the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank's stock valued at $393,000 after purchasing an additional 143 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. StockNews.com upgraded Bank of New York Mellon from a "hold" rating to a "buy" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Royal Bank of Canada restated a "sector perform" rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Finally, UBS Group boosted their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $81.00.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded down $0.74 on Friday, reaching $78.83. The company's stock had a trading volume of 2,982,509 shares, compared to its average volume of 3,828,686. 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 company has a market cap of $57.32 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.91 and a beta of 1.07. The business's fifty day moving average price is $77.82 and its 200 day moving average price is $69.03. The Bank of New York Mellon Co. has a twelve month low of $50.87 and a twelve month high of $82.72.

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 (EPS) for the quarter, beating 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 analyst estimates of $4.52 billion. Equities 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 declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.38%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 40.87%.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 75,404 shares of the company's stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

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.