Wellington Management Group LLP Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Wellington Management Group LLP increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 2,707.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,258,967 shares of the bank's stock after acquiring an additional 3,142,869 shares during the period. Wellington Management Group LLP owned approximately 0.45% of Bank of New York Mellon worth $234,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. McClarren Financial Advisors Inc. increased its holdings 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 worth $29,000 after buying an additional 346 shares during the last quarter. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth $32,000. Fortitude Family Office LLC increased its holdings in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock worth $44,000 after buying an additional 346 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon in the 3rd quarter worth $46,000. Finally, Grove Bank & Trust increased its holdings in shares of Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank's stock worth $46,000 after buying an additional 144 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction, the vice president now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This 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 insiders.

Bank of New York Mellon Stock Up 0.1 %

NYSE:BK traded up $0.10 on Monday, reaching $80.61. 5,712,196 shares of the stock traded hands, compared to its average volume of 3,826,318. The company's fifty day simple moving average is $77.14 and its 200 day simple moving average is $68.52. The Bank of New York Mellon Co. has a 12 month low of $49.15 and a 12 month high of $82.72. The company has a market capitalization of $58.61 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.92 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Equities analysts predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's payout ratio is 40.87%.

Analyst Ratings Changes

Several equities analysts recently commented on BK shares. StockNews.com lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Friday. Morgan Stanley raised shares of Bank of New York Mellon from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $82.00 to $94.00 in a report on Monday. Wells Fargo & Company increased their target price on shares of 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. Evercore ISI increased their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an "in-line" rating in a report on Monday, October 14th. Finally, UBS Group increased their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.00.

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.