Atom Investors LP Has $8.66 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Atom Investors LP lessened its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,564 shares of the bank's stock after selling 27,433 shares during the quarter. Bank of New York Mellon makes up 0.9% of Atom Investors LP's holdings, making the stock its 16th biggest position. Atom Investors LP's holdings in Bank of New York Mellon were worth $8,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. lifted its position in shares of 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 valued at $29,000 after buying an additional 346 shares during the last quarter. Olistico Wealth LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter valued at $30,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon in the second quarter valued at $32,000. Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $40,000. Finally, Fortitude Family Office LLC grew its stake in Bank of New York Mellon by 130.6% in the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock valued at $44,000 after buying an additional 346 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm'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 sale, the executive vice president now owns 75,404 shares of the company's stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BK shares. The Goldman Sachs Group boosted their price objective 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. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the company an "equal weight" rating in a research note on Friday, November 15th. UBS Group increased their price target on Bank of New York Mellon from $73.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Five research 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 an average rating of "Moderate Buy" and a consensus price target of $78.15.

Bank of New York Mellon Trading Down 0.9 %

Bank of New York Mellon stock traded down $0.76 during trading hours on Monday, hitting $81.11. The stock had a trading volume of 2,712,206 shares, compared to its average volume of 3,828,700. The business's 50 day simple moving average is $76.07 and its 200-day simple moving average is $67.59. The Bank of New York Mellon Co. has a one year low of $47.48 and a one year high of $82.72. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The stock has a market cap of $58.97 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion for 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%. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.84 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.32%. Bank of New York Mellon's payout ratio is 40.87%.

Bank of New York Mellon Company 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.