Concord Wealth Partners Buys 453 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Concord Wealth Partners raised its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 150.5% during the 3rd quarter, Holdings Channel reports. The fund owned 754 shares of the bank’s stock after purchasing an additional 453 shares during the period. Concord Wealth Partners’ holdings in Bank of New York Mellon were worth $54,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BK. Marshall Wace LLP boosted its position in Bank of New York Mellon by 99.4% during the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after acquiring an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after acquiring an additional 1,020,906 shares in the last quarter. M&G Plc bought a new stake in Bank of New York Mellon during the 1st quarter valued at $55,543,000. Swedbank AB acquired a new stake in shares of Bank of New York Mellon in the 1st quarter worth $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of 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 worth $72,835,000 after purchasing an additional 574,319 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Evercore ISI raised 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 research report on Monday, October 14th. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Citigroup raised their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, UBS Group raised their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $76.69.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s 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 transaction, the executive vice president now owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction dated 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 owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company’s 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 transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $76.51 on Tuesday. The stock has a market cap of $57.22 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The business has a 50-day simple moving average of $71.19 and a 200-day simple moving average of $63.98. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 52-week low of $41.80 and a 52-week high of $78.03.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.46%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

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.