The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 130.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 326,372 shares of the bank's stock after buying an additional 184,560 shares during the quarter. HighTower Advisors LLC's holdings in Bank of New York Mellon were worth $23,449,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. raised its stake in shares of Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock worth $29,000 after purchasing an additional 346 shares during the last quarter. Clearstead Trust LLC purchased a new position in shares of Bank of New York Mellon in the second quarter worth about $32,000. Fortitude Family Office LLC raised its stake in shares of Bank of New York Mellon by 130.6% in the third quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Bank of New York Mellon in the third quarter worth about $46,000. Finally, Grove Bank & Trust grew its holdings in Bank of New York Mellon by 28.8% during the third quarter. Grove Bank & Trust now owns 644 shares of the bank's stock worth $46,000 after acquiring an additional 144 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Hanneke Smits sold 16,475 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now owns 157,455 shares of the company's stock, valued at $12,040,583.85. This represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company'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 transaction, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Barclays raised their target price 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. StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company raised their price objective on Bank of New York Mellon from $79.00 to $81.00 and gave the company an "equal weight" rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average price target of $79.77.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded down $0.98 during trading on Friday, reaching $80.51. The stock had a trading volume of 2,509,287 shares, compared to its average volume of 3,818,327. 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 business has a fifty day moving average price of $76.79 and a 200-day moving average price of $68.08. The stock has a market cap of $58.54 billion, a PE ratio of 17.50, a PEG ratio of 0.92 and a beta of 1.07. The Bank of New York Mellon Co. has a 1-year low of $47.60 and a 1-year 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, topping analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, equities analysts forecast 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 Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.34%. Bank of New York Mellon's payout ratio is 40.87%.

About Bank of New York Mellon

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.