The Bank of New York Mellon Co. (NYSE:BK) Position Boosted by Diversified Trust Co

Diversified Trust Co lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 56.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,231 shares of the bank’s stock after purchasing an additional 18,050 shares during the quarter. Diversified Trust Co’s holdings in Bank of New York Mellon were worth $3,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Cetera Advisor Networks LLC grew its stake in Bank of New York Mellon by 6.8% in the fourth quarter. Cetera Advisor Networks LLC now owns 93,306 shares of the bank’s stock valued at $4,857,000 after purchasing an additional 5,976 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Bank of New York Mellon by 17.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,849,353 shares of the bank’s stock worth $96,259,000 after buying an additional 280,034 shares during the last quarter. Personal CFO Solutions LLC raised its position in Bank of New York Mellon by 10.5% during the fourth quarter. Personal CFO Solutions LLC now owns 5,222 shares of the bank’s stock valued at $272,000 after acquiring an additional 497 shares in the last quarter. Evercore Wealth Management LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $204,000. Finally, Elo Mutual Pension Insurance Co grew its position in Bank of New York Mellon by 4.3% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 67,993 shares of the bank’s stock worth $3,539,000 after acquiring an additional 2,812 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on BK. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective 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. Morgan Stanley upped their target price 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. Finally, Citigroup lifted their price target on shares of 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.25.

Bank of New York Mellon Price Performance

NYSE:BK opened at $72.44 on Tuesday. 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 stock has a market cap of $54.17 billion, a P/E ratio of 16.77, a PEG ratio of 1.24 and a beta of 1.08. The company has a fifty day moving average price of $67.46 and a 200 day moving average price of $61.87. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $73.19.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter last year, the company earned $1.38 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts anticipate that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.60%. Bank of New York Mellon’s payout ratio is currently 43.52%.

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.