Concord Wealth Partners Acquires 453 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Concord Wealth Partners lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 150.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 754 shares of the bank’s stock after acquiring an additional 453 shares during the period. Concord Wealth Partners’ holdings in Bank of New York Mellon were worth $54,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its stake in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock worth $623,891,000 after acquiring an additional 421,161 shares during the period. Victory Capital Management Inc. boosted its stake in Bank of New York Mellon by 2.2% during the second quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank’s stock valued at $490,640,000 after buying an additional 179,503 shares during the last quarter. Legal & General Group Plc boosted its stake in Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank’s stock valued at $482,597,000 after buying an additional 97,286 shares during the last quarter. LSV Asset Management boosted its stake in Bank of New York Mellon by 3.9% during the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock valued at $453,315,000 after buying an additional 286,820 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Bank of New York Mellon by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank’s stock valued at $434,370,000 after buying an additional 454,151 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. The Goldman Sachs Group increased their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Evercore ISI upped their price objective on 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. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Citigroup upped their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $76.69.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 1.7 %

Shares of NYSE BK opened at $76.51 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50 day moving average price is $71.19 and its 200-day moving average price is $63.98. The Bank of New York Mellon Co. has a fifty-two week low of $41.80 and a fifty-two week high of $78.03. The company has a market cap of $57.22 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.16 and a beta of 1.08.

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 $0.47 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.46%. Bank of New York Mellon’s payout ratio is 43.52%.

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.