Los Angeles Capital Management LLC Has $1.23 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Los Angeles Capital Management LLC decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 52.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,102 shares of the bank's stock after selling 18,837 shares during the period. Los Angeles Capital Management LLC's holdings in Bank of New York Mellon were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. United Advisor Group LLC purchased a new position in shares of Bank of New York Mellon in the third quarter worth approximately $595,000. Bessemer Group Inc. grew its stake in Bank of New York Mellon by 128.8% during the 1st quarter. Bessemer Group Inc. now owns 30,755 shares of the bank's stock valued at $1,771,000 after acquiring an additional 17,312 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Bank of New York Mellon by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock worth $623,891,000 after purchasing an additional 421,161 shares in the last quarter. Principal Financial Group Inc. grew its position in Bank of New York Mellon by 1.7% during the third quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock valued at $63,514,000 after purchasing an additional 14,916 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in Bank of New York Mellon in the 1st quarter worth approximately $6,087,000. Institutional investors own 85.31% of the company's stock.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 24.90 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Performance

BK stock traded up $0.52 on Friday, reaching $78.09. 1,442,887 shares of the company were exchanged, compared to its average volume of 3,856,718. The firm has a market capitalization of $56.78 billion, a PE ratio of 16.98, a PEG ratio of 0.89 and a beta of 1.07. The Bank of New York Mellon Co. has a 12 month low of $46.04 and a 12 month high of $80.29. The stock's fifty day moving average price is $73.75 and its 200 day moving average price is $65.74. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.70 and a quick ratio of 0.70.

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 analysts' consensus estimates of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.82 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is presently 40.87%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BK. JPMorgan Chase & Co. upped their price target on shares of 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. Morgan Stanley raised their price target 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. The Goldman Sachs Group boosted their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Citigroup raised their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $77.23.

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.