The Bank of New York Mellon Co. (NYSE:BK) Position Lifted by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,884 shares of the bank’s stock after acquiring an additional 6,544 shares during the period. Vontobel Holding Ltd.’s holdings in Bank of New York Mellon were worth $4,591,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP raised its position in shares of Bank of New York Mellon by 99.4% during the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock valued at $157,583,000 after acquiring an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Bank of New York Mellon by 6,040.9% in 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 during the last quarter. M&G Plc bought a new position in shares of Bank of New York Mellon in the 1st quarter worth about $55,543,000. Swedbank AB acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at about $35,514,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Bank of New York Mellon by 89.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank’s stock worth $72,835,000 after acquiring an additional 574,319 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the subject of a number of research reports. Morgan Stanley lifted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. 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 report on Monday, October 14th. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Stock Performance

BK opened at $76.67 on Friday. 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 market capitalization of $57.34 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The business has a 50 day moving average price of $69.81 and a two-hundred day moving average price of $63.07. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70.

Bank of New York Mellon Announces Dividend

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

Insiders Place Their Bets

In other news, VP Hanneke Smits sold 16,475 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $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 accessible through this link. In other 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 completion of the sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon 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 completion of 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. 0.14% of the stock is owned by company insiders.

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.