Point72 Asia Singapore Pte. Ltd. Sells 21,247 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Point72 Asia Singapore Pte. Ltd. decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 60.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 14,032 shares of the bank's stock after selling 21,247 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Bank of New York Mellon were worth $1,008,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BK. Point72 Hong Kong Ltd lifted its position in shares of Bank of New York Mellon by 1,340.6% in the third quarter. Point72 Hong Kong Ltd now owns 15,400 shares of the bank's stock valued at $1,107,000 after acquiring an additional 14,331 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Bank of New York Mellon during the 3rd quarter worth $7,518,000. Ironwood Investment Counsel LLC acquired a new stake in Bank of New York Mellon in the third quarter valued at $229,000. Rockefeller Capital Management L.P. boosted its stake in shares of Bank of New York Mellon by 0.9% during the third quarter. Rockefeller Capital Management L.P. now owns 29,519 shares of the bank's stock worth $2,118,000 after buying an additional 250 shares during the period. Finally, Financial Counselors Inc. acquired a new position in shares of Bank of New York Mellon during the third quarter worth about $293,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 0.5 %

Bank of New York Mellon stock traded down $0.45 during mid-day trading on Monday, reaching $81.42. The company's stock had a trading volume of 1,114,199 shares, compared to its average volume of 3,825,439. The Bank of New York Mellon Co. has a 12 month low of $47.48 and a 12 month high of $82.72. The company has a market capitalization of $59.20 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. 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's 50 day simple moving average is $76.07 and its 200 day simple moving average is $67.59.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The company 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%. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 5.84 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.47 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.31%. Bank of New York Mellon's dividend payout ratio is presently 40.87%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BK. 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 company a "buy" rating in a report on Thursday, September 26th. Wells Fargo & Company upped their price target on Bank of New York Mellon from $79.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Friday, November 15th. UBS Group lifted their target price on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Evercore ISI boosted their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $79.00 target price on shares of Bank of New York Mellon in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average price target of $78.15.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 25,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Hanneke Smits sold 16,475 shares of the company'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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

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.