GHP Investment Advisors Inc. Purchases 328 Shares of The Bank of New York Mellon Co. (NYSE:BK)

GHP Investment Advisors Inc. increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.0% during the third quarter, Holdings Channel reports. The fund owned 5,045 shares of the bank’s stock after purchasing an additional 328 shares during the period. GHP Investment Advisors Inc.’s holdings in Bank of New York Mellon were worth $363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. boosted its stake in Bank of New York Mellon by 586.4% in the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at about $30,000. Clearstead Trust LLC acquired a new position in Bank of New York Mellon during the 2nd quarter worth about $32,000. Grove Bank & Trust grew its holdings in Bank of New York Mellon by 28.8% during the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock worth $46,000 after acquiring an additional 144 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $40,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BK. Deutsche Bank Aktiengesellschaft upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. The Goldman Sachs Group increased their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. boosted their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wells Fargo & Company raised their price target on Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Finally, Evercore ISI boosted their price objective on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated 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 transaction, the vice president now 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 SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $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. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $75.20 on Monday. The stock has a 50-day moving average of $70.98 and a 200-day moving average of $63.83. The Bank of New York Mellon Co. has a one year low of $41.44 and a one year high of $78.03. The stock has a market cap of $56.24 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.50%. 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.