McClarren Financial Advisors Inc. Purchases 346 Shares of The Bank of New York Mellon Co. (NYSE:BK)

McClarren Financial Advisors Inc. lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 586.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 405 shares of the bank’s stock after acquiring an additional 346 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in Bank of New York Mellon were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Columbus Macro LLC acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth about $217,000. Cyndeo Wealth Partners LLC grew its position in shares of Bank of New York Mellon by 5.2% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 5,701 shares of the bank’s stock worth $410,000 after purchasing an additional 282 shares in the last quarter. Means Investment CO. Inc. acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $226,000. Resonant Capital Advisors LLC increased its holdings in shares of Bank of New York Mellon by 6.1% during the third quarter. Resonant Capital Advisors LLC now owns 4,484 shares of the bank’s stock worth $322,000 after purchasing an additional 256 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Bank of New York Mellon by 95.4% in the third quarter. Blue Trust Inc. now owns 1,673 shares of the bank’s stock valued at $120,000 after buying an additional 817 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Bank of New York Mellon 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 sale, the vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In related 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 transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 directly owns 75,404 shares of the company’s stock, valued at $5,754,079.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BK. Morgan Stanley increased 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 report on Monday, September 30th. JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Finally, UBS Group raised their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.69.

Bank of New York Mellon Stock Down 1.4 %

Shares of NYSE BK opened at $76.67 on Monday. The Bank of New York Mellon Co. has a 1 year low of $41.15 and a 1 year high of $78.03. 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 firm has a market cap of $57.34 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The company has a 50 day simple moving average of $69.81 and a 200 day simple moving average of $63.15.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.45%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

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.