Grove Bank & Trust Acquires 144 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Grove Bank & Trust raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 28.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 644 shares of the bank’s stock after buying an additional 144 shares during the period. Grove Bank & Trust’s holdings in Bank of New York Mellon were worth $46,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in shares of 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 during the period. Panagora Asset Management Inc. lifted its holdings in 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 valued at $62,154,000 after purchasing an additional 1,020,906 shares in the last quarter. M&G Plc bought a new position in shares of Bank of New York Mellon in the first quarter worth approximately $55,543,000. Swedbank AB purchased a new stake in shares of Bank of New York Mellon in the first quarter worth $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Bank of New York Mellon by 89.5% during 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 purchasing an additional 574,319 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Trading Down 0.4 %

Shares of BK stock opened at $76.24 on Wednesday. The company has a market cap of $57.01 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $68.95 and its two-hundred day simple moving average is $62.73. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $77.67.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.47%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BK. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. The Goldman Sachs Group increased 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. Barclays boosted their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a report on Monday. Citigroup increased their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $76.69.

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.