The Bank of New York Mellon Co. (NYSE:BK) Position Cut by Garland Capital Management Inc.

Garland Capital Management Inc. trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 15.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,070 shares of the bank's stock after selling 14,495 shares during the period. Bank of New York Mellon accounts for approximately 4.4% of Garland Capital Management Inc.'s holdings, making the stock its 6th largest position. Garland Capital Management Inc.'s holdings in Bank of New York Mellon were worth $5,754,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Private Advisor Group LLC raised its stake in shares of Bank of New York Mellon by 42.0% in the first quarter. Private Advisor Group LLC now owns 50,770 shares of the bank's stock valued at $2,925,000 after acquiring an additional 15,026 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Bank of New York Mellon by 6.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 237,547 shares of the bank's stock valued at $13,687,000 after buying an additional 14,766 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Bank of New York Mellon by 10.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 122,398 shares of the bank's stock valued at $7,053,000 after buying an additional 11,822 shares during the period. Nordea Investment Management AB increased its position in shares of Bank of New York Mellon by 2.9% during the first quarter. Nordea Investment Management AB now owns 54,994 shares of the bank's stock worth $3,170,000 after acquiring an additional 1,574 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Bank of New York Mellon by 17.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,811 shares of the bank's stock valued at $1,833,000 after acquiring an additional 4,792 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the 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 sale, the vice president now directly owns 157,455 shares in the company, valued at $12,040,583.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the sale, the vice president now directly owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the 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 transaction, the executive vice president now directly owns 75,404 shares in the company, valued at $5,754,079.24. This trade 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.

Bank of New York Mellon Stock Performance

BK traded up $0.62 on Tuesday, reaching $75.62. 1,301,361 shares of the stock were exchanged, compared to its average volume of 3,850,992. The Bank of New York Mellon Co. has a fifty-two week low of $44.32 and a fifty-two week high of $78.03. The company's 50-day moving average price is $72.17 and its 200 day moving average price is $64.71. 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 firm has a market capitalization of $55.80 billion, a PE ratio of 16.42, a PEG ratio of 0.88 and a beta of 1.07.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.49%. Bank of New York Mellon's payout ratio is 40.87%.

Wall Street Analyst Weigh In

Several research firms have commented on BK. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $69.00 to $79.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. StockNews.com upgraded shares of Bank of New York Mellon from a "hold" rating to a "buy" rating in a report on Monday, October 14th. The Goldman Sachs Group upped their price target 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. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.69.

Bank of New York Mellon Company 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.