The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Assetmark Inc.

Assetmark Inc. increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 64.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,869 shares of the bank’s stock after acquiring an additional 734 shares during the period. Assetmark Inc.’s holdings in Bank of New York Mellon were worth $134,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP increased its holdings in shares of 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 valued at $157,583,000 after purchasing an additional 1,311,969 shares during the period. Panagora Asset Management Inc. raised its position in shares of 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 worth $62,154,000 after buying 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 1st quarter worth approximately $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Bank of New York Mellon by 89.5% in the second 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 acquiring an additional 574,319 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Bank of New York Mellon by 69.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank’s stock valued at $80,529,000 after acquiring an additional 574,185 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BK shares. Wells Fargo & Company upped their target price on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. lifted 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. Barclays boosted their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. UBS Group raised their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $77.23.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $78.29 on Monday. The Bank of New York Mellon Co. has a 12 month low of $46.04 and a 12 month high of $80.29. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a market cap of $56.92 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The business has a fifty day simple moving average of $73.99 and a 200-day simple moving average of $66.02.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 yield of 2.40%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.87%.

Insider Activity

In other news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following 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 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction 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 approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

About Bank of New York Mellon

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.