McGlone Suttner Wealth Management Inc. Buys 1,765 Shares of The Bank of New York Mellon Co. (NYSE:BK)

McGlone Suttner Wealth Management Inc. increased its stake in The Bank of New York Mellon Co. (NYSE:BK) by 36.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,670 shares of the bank’s stock after purchasing an additional 1,765 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Bank of New York Mellon were worth $479,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Bank of New York Mellon by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after purchasing an additional 4,293,751 shares during the period. Ameriprise Financial Inc. raised its holdings in Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank’s stock valued at $623,891,000 after acquiring an additional 421,161 shares during the period. Victory Capital Management Inc. raised its holdings 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 acquiring an additional 179,503 shares during the period. Legal & General Group Plc raised its holdings 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 acquiring an additional 97,286 shares during the period. Finally, LSV Asset Management raised its holdings 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 acquiring an additional 286,820 shares during the period. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on BK shares. Barclays raised their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. The Goldman Sachs Group lifted their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. UBS Group lifted their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. 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 report on Monday, July 15th. Finally, Morgan Stanley lifted 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 report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.92.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 0.4 %

BK traded down $0.30 on Friday, hitting $74.15. The company had a trading volume of 10,109,152 shares, compared to its average volume of 3,871,116. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $76.15. The business’s fifty day simple moving average is $68.37 and its 200 day simple moving average is $62.42. The company has a market cap of $55.45 billion, a PE ratio of 17.16, a PEG ratio of 1.16 and a beta of 1.08. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.66 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.54%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.