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

HighTower Advisors LLC boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 130.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,372 shares of the bank’s stock after acquiring 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Bank of New York Mellon by 78.6% in the 3rd quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after acquiring an additional 8,512,404 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Bank of New York Mellon by 99.4% during the second quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after buying an additional 1,311,969 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Bank of New York Mellon by 6,040.9% during the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock worth $62,154,000 after buying an additional 1,020,906 shares during the period. Bank of Montreal Can boosted its holdings in Bank of New York Mellon by 83.7% during the 3rd quarter. Bank of Montreal Can now owns 1,323,755 shares of the bank’s stock valued at $94,913,000 after acquiring an additional 603,191 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Bank of New York Mellon by 89.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock valued at $72,835,000 after acquiring an additional 574,319 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $81.49 on Friday. The company’s fifty day moving average is $76.79 and its two-hundred day moving average is $68.08. 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 firm has a market capitalization of $59.25 billion, a P/E ratio of 17.72, a PEG ratio of 0.92 and a beta of 1.07. The Bank of New York Mellon Co. has a one year low of $47.48 and a one year high of $82.72.

Bank of New York Mellon (NYSE:BK) last issued its 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 company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Analysts forecast that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.87%.

Wall Street Analyst Weigh In

BK has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Barclays boosted their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $79.77.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business’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 completion of the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

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.