The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 16.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,663 shares of the bank's stock after selling 12,000 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Bank of New York Mellon were worth $4,431,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. McClarren Financial Advisors Inc. increased its position 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 acquired a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $30,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon in the second quarter valued at approximately $32,000. Fortitude Family Office LLC raised its stake in shares of Bank of New York Mellon by 130.6% during the third 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. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Bank of New York Mellon during the third quarter worth $46,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Insiders Place Their Bets

In related 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 value of $1,907,750.00. Following the sale, the executive vice president now directly owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company'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 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 trade represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Price Performance

Shares of NYSE BK traded up $0.48 on Wednesday, hitting $81.75. The company's stock had a trading volume of 2,823,686 shares, compared to its average volume of 3,844,544. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a 50 day moving average of $75.67 and a 200-day moving average of $67.20. The Bank of New York Mellon Co. has a 12-month low of $46.81 and a 12-month high of $82.08. The company has a market capitalization of $59.44 billion, a price-to-earnings ratio of 17.77, 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 posted its quarterly earnings data on Friday, October 11th. The bank reported $1.52 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 firm had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. As a group, research analysts predict that The Bank of New York Mellon Co. will post 5.82 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. Investors of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.30%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 40.87%.

Analysts Set New Price Targets

A number of equities analysts have commented on BK shares. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $79.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Friday, November 15th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a report on Monday, October 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group raised their price target on 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 given a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.15.

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.