Cinctive Capital Management LP Takes $1.79 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Cinctive Capital Management LP bought a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,847 shares of the bank's stock, valued at approximately $1,786,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Studio Investment Management LLC raised its stake in shares of Bank of New York Mellon by 2.1% in the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock worth $477,000 after purchasing an additional 134 shares during the last quarter. Stanley Laman Group Ltd. raised its position in shares of Bank of New York Mellon by 2.2% in the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after acquiring an additional 135 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in 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 purchasing an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC lifted its holdings 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 period. Finally, Sigma Planning Corp raised its holdings in Bank of New York Mellon by 2.7% during the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank's stock valued at $393,000 after acquiring an additional 143 shares during the period. Institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the 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 completion of the sale, the executive vice president now owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction dated 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 of the company's stock, valued at $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 corporate insiders.

Bank of New York Mellon Trading Down 0.8 %

BK traded down $0.64 during trading on Wednesday, hitting $80.21. 2,761,244 shares of the stock were exchanged, compared to its average volume of 3,824,700. 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 firm has a market cap of $58.32 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 0.92 and a beta of 1.07. The firm has a 50 day simple moving average of $76.59 and a 200 day simple moving average of $67.99. The Bank of New York Mellon Co. has a 1 year low of $47.48 and a 1 year high of $82.72.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 5.84 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's payout ratio is 40.87%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BK. 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 research report on Monday, October 14th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday. StockNews.com raised shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.77.

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.