The Bank of New York Mellon Co. (NYSE:BK) Stake Raised by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 19.4% in the third quarter, Holdings Channel.com reports. The firm owned 15,273 shares of the bank’s stock after acquiring an additional 2,478 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Bank of New York Mellon were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BK. Entropy Technologies LP acquired a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $1,027,000. QRG Capital Management Inc. grew its stake in Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock valued at $7,351,000 after purchasing an additional 8,204 shares in the last quarter. Bessemer Group Inc. increased its position in Bank of New York Mellon by 128.8% in the 1st quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock worth $1,771,000 after purchasing an additional 17,312 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Bank of New York Mellon by 4.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after purchasing an additional 421,161 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Bank of New York Mellon during the 1st quarter valued at about $6,087,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 0.1 %

Shares of BK stock opened at $75.31 on Monday. The firm has a market capitalization of $55.58 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07. The Bank of New York Mellon Co. has a 1 year low of $43.46 and a 1 year high of $78.03. The firm’s fifty day simple moving average is $72.01 and its 200 day simple moving average is $64.57. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.50%. Bank of New York Mellon’s payout ratio is 40.87%.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent research reports. Barclays raised their price objective on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. StockNews.com upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Morgan Stanley upped their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $76.69.

Insider Activity

In other Bank of New York Mellon news, 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 value of $1,907,750.00. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were 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 in the company, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

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.