The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 398,932 shares of the bank’s stock after acquiring an additional 18,840 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.05% of Bank of New York Mellon worth $28,667,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BK. FMR LLC boosted its position in Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock worth $1,389,680,000 after purchasing an additional 8,512,404 shares in the last quarter. Marshall Wace LLP raised its position in 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 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. Swedbank AB acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at about $35,514,000. Finally, Bank of Montreal Can increased its stake in shares of Bank of New York Mellon by 83.7% during the third quarter. Bank of Montreal Can now owns 1,323,755 shares of the bank’s stock worth $94,913,000 after purchasing an additional 603,191 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction that occurred 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 sale, the vice president now owns 157,455 shares of the company’s stock, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were 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 directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 0.6 %

Shares of NYSE BK opened at $81.75 on Thursday. The stock has a market cap of $59.44 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The Bank of New York Mellon Co. has a 52-week low of $46.81 and a 52-week high of $82.08. The business has a 50-day moving average price of $75.67 and a 200 day moving average price of $67.20. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on BK shares. UBS Group increased their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an “in-line” 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 Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average price target of $78.15.

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.