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

Confluence Wealth Services Inc. grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,273 shares of the bank’s stock after purchasing an additional 2,478 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Bank of New York Mellon were worth $1,097,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. McClarren Financial Advisors Inc. lifted its holdings in Bank of New York Mellon by 586.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Olistico Wealth LLC acquired a new position in Bank of New York Mellon in the second quarter worth $30,000. Clearstead Trust LLC bought a new stake in Bank of New York Mellon during the second quarter valued at $32,000. Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon during the second quarter worth $40,000. Finally, Fortitude Family Office LLC lifted its position in shares of Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after buying an additional 346 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In related news, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of the company’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 sale, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 0.1 %

Shares of NYSE:BK opened at $75.31 on Monday. The Bank of New York Mellon Co. has a twelve month low of $43.46 and a twelve month high of $78.03. 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 firm has a market cap of $55.58 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.88 and a beta of 1.07. The company has a 50 day moving average of $72.01 and a 200-day moving average of $64.57.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon’s payout ratio is 40.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group boosted 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. Morgan Stanley increased their price target 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. Wells Fargo & Company raised their price target on 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, StockNews.com upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $76.69.

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.