Charles Schwab Investment Management Inc. Sells 46,411 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Charles Schwab Investment Management Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,837,349 shares of the bank's stock after selling 46,411 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.67% of Bank of New York Mellon worth $347,612,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. United Advisor Group LLC purchased a new position in shares of Bank of New York Mellon in the 3rd quarter worth approximately $595,000. Bessemer Group Inc. boosted its stake in Bank of New York Mellon by 128.8% during the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank's stock worth $1,771,000 after buying an additional 17,312 shares during the period. Principal Financial Group Inc. increased its position in Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock valued at $63,514,000 after acquiring an additional 14,916 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after acquiring an additional 421,161 shares during the period. Finally, Chase Investment Counsel Corp lifted its holdings in shares of Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank's stock worth $6,002,000 after acquiring an additional 33,558 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business's stock in a transaction that occurred 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 approximately $12,040,583.85. The trade was a 9.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 24.90 % 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 $80.14 on Friday. The firm has a market cap of $58.27 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.89 and a beta of 1.07. The Bank of New York Mellon Co. has a 52-week low of $46.81 and a 52-week high of $80.29. 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 company's 50 day moving average is $75.03 and its 200 day moving average is $66.64.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Analysts Set New Price Targets

Several equities analysts recently commented on BK shares. Royal Bank of Canada reiterated 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. Wells Fargo & Company upped their target price on 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. Morgan Stanley raised their price target 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. StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Barclays lifted their target price on Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $77.23.

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.

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