Hotchkis & Wiley Capital Management LLC Decreases Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 23.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,706,363 shares of the bank's stock after selling 1,425,530 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.65% of Bank of New York Mellon worth $338,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BK. McClarren Financial Advisors Inc. lifted its position in Bank of New York Mellon by 586.4% during the third quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock worth $29,000 after buying an additional 346 shares during the period. Olistico Wealth LLC bought a new stake in shares of Bank of New York Mellon in the second quarter worth $30,000. Clearstead Trust LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth about $32,000. Fortitude Family Office LLC boosted its holdings in Bank of New York Mellon by 130.6% in 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 period. Finally, Ashton Thomas Securities LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Hanneke Smits sold 16,475 shares of the company's 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 completion of the sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value 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 approximately $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. Corporate insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the topic of several analyst reports. UBS Group raised their price target on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $87.00 to $96.00 and gave the company an "outperform" rating in a report on Tuesday. 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 report on Monday, September 30th. Finally, Barclays raised 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 report on Monday, October 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $79.77.

Bank of New York Mellon Price Performance

BK traded down $0.25 during midday trading on Tuesday, hitting $80.86. The stock had a trading volume of 2,952,326 shares, compared to its average volume of 3,829,264. The company has a market cap of $58.79 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. 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 debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70. The business has a fifty day moving average of $76.07 and a 200 day moving average of $67.59.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.65 billion during 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%. As a group, equities analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid 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 2.33%. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

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.