The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Fiduciary Trust Co

Fiduciary Trust Co increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,967 shares of the bank’s stock after purchasing an additional 343 shares during the period. Fiduciary Trust Co’s holdings in Bank of New York Mellon were worth $932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake 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 valued at $1,389,680,000 after purchasing an additional 8,512,404 shares during the last quarter. Ameriprise Financial Inc. grew its position in Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after buying an additional 421,161 shares during the last quarter. Victory Capital Management Inc. increased its stake in Bank of New York Mellon by 2.2% in the 2nd quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock valued at $490,640,000 after buying an additional 179,503 shares during the period. Legal & General Group Plc raised its position in Bank of New York Mellon by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock worth $482,597,000 after buying an additional 97,286 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Bank of New York Mellon by 3.9% in the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock worth $453,315,000 after acquiring an additional 286,820 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 shares of the company’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 transaction 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 represents a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $1,907,750.00. Following the sale, the executive vice president now 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. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. The Goldman Sachs Group boosted their target price on 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. StockNews.com raised Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.15.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $81.91 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $59.55 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The firm has a 50-day moving average price of $76.07 and a two-hundred day moving average price of $67.47. The Bank of New York Mellon Co. has a twelve month low of $47.44 and a twelve month high of $82.72.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share 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 business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. As a group, research 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 Announces Dividend

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

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.