The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by KBC Group NV

KBC Group NV decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 28.5% during the third quarter, Holdings Channel.com reports. The firm owned 1,792,853 shares of the bank’s stock after selling 716,314 shares during the period. KBC Group NV’s holdings in Bank of New York Mellon were worth $128,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its stake in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank’s stock valued at $29,000 after acquiring an additional 346 shares during the period. Olistico Wealth LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at about $30,000. Clearstead Trust LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $32,000. Family Firm Inc. purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $40,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank’s stock worth $44,000 after purchasing an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BK has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective 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 boosted their price target 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 report on Monday, October 14th. Citigroup lifted their target price on shares of 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. Royal Bank of Canada restated a “sector perform” rating and set a $79.00 price target on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, UBS Group upped their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.08.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, 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 approximately $5,754,079.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were 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 in the company, valued at approximately $5,754,079.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

BK opened at $77.61 on Thursday. The stock’s 50-day moving average price is $73.36 and its 200 day moving average price is $65.57. The Bank of New York Mellon Co. has a 12-month low of $46.00 and a 12-month high of $80.29. The firm has a market cap of $56.43 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.90 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

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 paid a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.87%.

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.