MAI Capital Management Decreases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

MAI Capital Management lessened its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 42.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,890 shares of the bank's stock after selling 12,601 shares during the quarter. MAI Capital Management's holdings in Bank of New York Mellon were worth $1,214,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP boosted its position in Bank of New York Mellon by 99.4% during the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock worth $157,583,000 after buying an additional 1,311,969 shares during the period. Panagora Asset Management Inc. raised its position in Bank of New York Mellon by 6,040.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock worth $62,154,000 after purchasing an additional 1,020,906 shares during the last quarter. Swedbank AB acquired a new position in Bank of New York Mellon during the 1st quarter worth about $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Bank of New York Mellon by 89.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank's stock valued at $72,835,000 after buying an additional 574,319 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Bank of New York Mellon by 69.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank's stock valued at $80,529,000 after buying an additional 574,185 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 0.5 %

Shares of NYSE BK traded up $0.37 during midday trading on Thursday, hitting $78.24. The stock had a trading volume of 326,610 shares, compared to its average volume of 3,838,836. The company has a market cap of $56.89 billion, a P/E ratio of 16.93, a PEG ratio of 0.89 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The business's 50 day moving average is $74.60 and its 200-day moving average is $66.40. The Bank of New York Mellon Co. has a 52 week low of $46.71 and a 52 week high of $80.29.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.52 billion. As a group, 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 business 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 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's payout ratio is currently 40.87%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the firm's stock in a transaction on Tuesday, October 15th. The stock was 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 of the company's stock, valued at $5,754,079.24. This trade represents a 24.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated 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 sale, the vice president now owns 157,455 shares of the company's stock, valued at approximately $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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, November 11th. UBS Group upped their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Finally, Wells Fargo & Company raised 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. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.