abrdn plc Has $103.42 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

abrdn plc lifted its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,450,249 shares of the bank’s stock after buying an additional 64,302 shares during the period. abrdn plc owned about 0.19% of Bank of New York Mellon worth $103,417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stanley Laman Group Ltd. boosted its stake in Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock worth $445,000 after purchasing an additional 135 shares during the period. Frank Rimerman Advisors LLC grew its position in Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after purchasing an additional 142 shares in the last quarter. Grove Bank & Trust increased its stake in Bank of New York Mellon by 28.8% in the 3rd quarter. Grove Bank & Trust now owns 644 shares of the bank’s stock valued at $46,000 after buying an additional 144 shares during the last quarter. Signaturefd LLC lifted its position in Bank of New York Mellon by 1.1% during the 3rd quarter. Signaturefd LLC now owns 14,386 shares of the bank’s stock worth $1,034,000 after buying an additional 157 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Bank of New York Mellon by 4.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock worth $231,000 after buying an additional 165 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 0.1 %

BK stock opened at $76.56 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $57.25 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $41.80 and a 52 week high of $78.03. The company’s 50-day simple moving average is $71.42 and its 200 day simple moving average is $64.13.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.46%. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the transaction, the vice president now directly owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of the firm’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 directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. UBS Group upped their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. StockNews.com raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.