Glenmede Trust Co. NA Purchases 18,840 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Glenmede Trust Co. NA grew its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 398,932 shares of the bank's stock after purchasing an additional 18,840 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.05% of Bank of New York Mellon worth $28,667,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Bridgewater Associates LP grew its holdings in shares of Bank of New York Mellon by 29.5% during the 3rd quarter. Bridgewater Associates LP now owns 520,921 shares of the bank's stock valued at $37,433,000 after purchasing an additional 118,792 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Bank of New York Mellon by 24.6% during the third quarter. Townsquare Capital LLC now owns 22,001 shares of the bank's stock valued at $1,581,000 after buying an additional 4,342 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new position in shares of Bank of New York Mellon in the third quarter worth about $1,010,000. D.A. Davidson & CO. lifted its stake in shares of Bank of New York Mellon by 3.3% in the 3rd quarter. D.A. Davidson & CO. now owns 7,299 shares of the bank's stock valued at $525,000 after acquiring an additional 231 shares during the last quarter. Finally, FMR LLC boosted its holdings in Bank of New York Mellon by 78.6% during the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank's stock valued at $1,389,680,000 after acquiring an additional 8,512,404 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BK has been the topic of a number of analyst reports. Citigroup lifted their price target on Bank of New York Mellon from $75.00 to $82.00 and gave the stock a "neutral" rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of 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. UBS Group increased their target price 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. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a report on Monday, November 11th. Finally, Evercore ISI increased their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. Five equities 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $78.15.

Bank of New York Mellon Stock Up 0.6 %

Shares of Bank of New York Mellon stock traded up $0.47 during trading on Thursday, hitting $81.74. The company's stock had a trading volume of 2,823,693 shares, compared to its average volume of 3,844,544. The Bank of New York Mellon Co. has a 52 week low of $46.81 and a 52 week high of $82.08. 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 fifty day simple moving average of $75.87 and a two-hundred day simple moving average of $67.30. The company has a market capitalization of $59.43 billion, a PE ratio of 17.77, a P/E/G ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its 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. The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Equities research analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.30%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio (DPR) is 40.87%.

Insider Transactions 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 sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated 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 owns 75,404 shares of the company's stock, 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. Insiders own 0.14% of the company's stock.

Bank of New York Mellon 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.