The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by M&G Plc

M&G Plc reduced its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 942,376 shares of the bank’s stock after selling 41,684 shares during the quarter. M&G Plc owned 0.13% of Bank of New York Mellon worth $67,851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Stanley Laman Group Ltd. boosted its stake in shares of Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank’s stock valued at $445,000 after buying an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank’s stock valued at $505,000 after buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in shares of Bank of New York Mellon by 1.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank’s stock valued at $928,000 after buying an additional 142 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Bank of New York Mellon by 28.8% during 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. Finally, Catalina Capital Group LLC boosted its stake in shares of Bank of New York Mellon by 2.2% during the 3rd quarter. Catalina Capital Group LLC now owns 6,795 shares of the bank’s stock valued at $488,000 after buying an additional 145 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the 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 owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the 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 transaction, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley raised their price objective on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Bank of New York Mellon in a research note on Monday, October 14th. Finally, Citigroup raised their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $76.69.

Bank of New York Mellon Price Performance

Shares of BK opened at $78.22 on Thursday. The firm has a market capitalization of $57.72 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a one year low of $44.32 and a one year high of $80.29. The stock’s fifty day moving average is $72.56 and its 200-day moving average is $64.94.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. Equities analysts anticipate that The Bank of New York Mellon Co. will post 5.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 40.87%.

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.