Bruce G. Allen Investments LLC Acquires 256 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Bruce G. Allen Investments LLC increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,278 shares of the bank’s stock after acquiring an additional 256 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Bank of New York Mellon were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BK. FMR LLC grew its holdings in shares of Bank of New York Mellon by 78.6% during the third quarter. FMR LLC now owns 19,338,722 shares of the bank’s stock valued at $1,389,680,000 after buying an additional 8,512,404 shares during the last quarter. Wellington Management Group LLP boosted its stake in Bank of New York Mellon by 2,707.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,258,967 shares of the bank’s stock valued at $234,189,000 after purchasing an additional 3,142,869 shares during the last quarter. Marshall Wace LLP increased its holdings in 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 worth $157,583,000 after purchasing an additional 1,311,969 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of Bank of New York Mellon in the third quarter worth approximately $62,589,000. Finally, State Street Corp lifted its holdings in shares of Bank of New York Mellon by 2.0% in the third quarter. State Street Corp now owns 33,313,594 shares of the bank’s stock valued at $2,393,915,000 after purchasing an additional 659,096 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the transaction, the vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. The trade was a 24.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded down $2.27 during trading on Friday, hitting $75.68. The stock had a trading volume of 2,133,133 shares, compared to its average volume of 3,254,262. The firm has a market cap of $55.03 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.91 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average is $78.55 and its 200 day moving average is $71.42. The Bank of New York Mellon Co. has a 12 month low of $52.21 and a 12 month high of $82.72.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Analyst Ratings Changes

BK has been the topic of a number of analyst reports. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a report on Saturday, December 14th. Truist Financial assumed coverage on Bank of New York Mellon in a report on Tuesday. They issued a “buy” rating and a $91.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on shares of 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. Finally, Barclays increased their target price on shares of Bank of New York Mellon from $86.00 to $102.00 and gave the company an “overweight” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $82.64.

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.