KBC Group NV Has $128.83 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

KBC Group NV lessened its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 28.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,792,853 shares of the bank's stock after selling 716,314 shares during the quarter. KBC Group NV owned approximately 0.24% of Bank of New York Mellon worth $128,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in Bank of New York Mellon by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock worth $623,891,000 after buying an additional 421,161 shares in the last quarter. Victory Capital Management Inc. increased its stake in Bank of New York Mellon by 2.2% in the second quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank's stock valued at $490,640,000 after acquiring an additional 179,503 shares during the period. Legal & General Group Plc increased its stake in Bank of New York Mellon by 1.2% in the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank's stock valued at $482,597,000 after acquiring an additional 97,286 shares during the period. LSV Asset Management raised its position in Bank of New York Mellon by 3.9% in the second quarter. LSV Asset Management now owns 7,569,133 shares of the bank's stock worth $453,315,000 after purchasing an additional 286,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Bank of New York Mellon by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank's stock worth $434,370,000 after purchasing an additional 454,151 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 16,475 shares of the business's stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 157,455 shares of the company's stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, VP Hanneke Smits sold 16,475 shares of the firm's stock in a transaction 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 transaction, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company's 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 $5,754,079.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BK. UBS Group upped their price objective on 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. Evercore ISI upped their price target on 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 increased their price objective 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Monday. Finally, The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.08.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.14 during trading hours on Thursday, reaching $77.75. 2,101,966 shares of the company were exchanged, compared to its average volume of 3,857,634. The Bank of New York Mellon Co. has a fifty-two week low of $46.04 and a fifty-two week high of $80.29. 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's fifty day moving average is $73.56 and its two-hundred day moving average is $65.66. The company has a market cap of $56.53 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 0.90 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm 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%. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.82 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. Investors of record on Monday, October 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is 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.