Chevy Chase Trust Holdings LLC Sells 12,358 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Chevy Chase Trust Holdings LLC reduced its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 398,253 shares of the bank's stock after selling 12,358 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Bank of New York Mellon worth $28,618,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in BK. Studio Investment Management LLC grew its position in shares of Bank of New York Mellon by 2.1% in the 3rd quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock worth $477,000 after acquiring an additional 134 shares in the last quarter. Stanley Laman Group Ltd. raised its holdings in shares of Bank of New York Mellon by 2.2% during the third 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. Avidian Wealth Enterprises LLC boosted its holdings in shares of Bank of New York Mellon by 2.0% in 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 period. Frank Rimerman Advisors LLC lifted its stake 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 buying an additional 142 shares during the last quarter. Finally, Sigma Planning Corp grew its holdings in Bank of New York Mellon by 2.7% in the 3rd quarter. Sigma Planning Corp now owns 5,470 shares of the bank's stock worth $393,000 after buying an additional 143 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research note on Tuesday. Barclays lifted their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an "in-line" rating in a research report on Monday, October 14th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group increased their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average price target of $79.77.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 75,404 shares of the company's stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction 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 business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Up 0.1 %

BK stock traded up $0.07 during midday trading on Tuesday, hitting $81.18. The stock had a trading volume of 1,540,572 shares, compared to its average volume of 3,822,979. The business has a fifty day moving average price of $76.07 and a two-hundred day moving average price of $67.59. The Bank of New York Mellon Co. has a 1-year low of $47.48 and a 1-year high of $82.72. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. The firm has a market cap of $59.02 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 12.06% and a net margin of 9.44%. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.32%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 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.