MetLife Investment Management LLC Has $13.79 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

MetLife Investment Management LLC cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,905 shares of the bank's stock after selling 7,576 shares during the quarter. MetLife Investment Management LLC's holdings in Bank of New York Mellon were worth $13,790,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Studio Investment Management LLC grew its holdings in shares of Bank of New York Mellon by 2.1% during the third quarter. Studio Investment Management LLC now owns 6,636 shares of the bank's stock valued at $477,000 after purchasing an additional 134 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in Bank of New York Mellon by 2.2% during the 3rd quarter. Stanley Laman Group Ltd. now owns 6,198 shares of the bank's stock worth $445,000 after buying an additional 135 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in Bank of New York Mellon by 2.0% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,024 shares of the bank's stock worth $505,000 after buying an additional 137 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in Bank of New York Mellon by 1.1% in the third quarter. Frank Rimerman Advisors LLC now owns 12,908 shares of the bank's stock worth $928,000 after buying an additional 142 shares during the period. Finally, Sigma Planning Corp lifted its stake in Bank of New York Mellon by 2.7% in the third quarter. Sigma Planning Corp now owns 5,470 shares of the bank's stock valued at $393,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI upped their price target on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the stock an "in-line" rating in a research report on Monday, October 14th. The Goldman Sachs Group upped 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. JPMorgan Chase & Co. raised their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus target price of $78.15.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded up $0.47 during trading hours on Thursday, hitting $81.74. 2,823,693 shares of the company's stock traded hands, compared to its average volume of 3,844,544. The company's fifty day simple moving average is $75.67 and its two-hundred day simple moving average is $67.20. The company has a market cap of $59.43 billion, a price-to-earnings ratio of 17.77, 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 Bank of New York Mellon Co. has a 52 week low of $46.81 and a 52 week high of $82.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. The firm had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. As a group, equities 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 business also recently announced 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 2.30%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.87%.

Insider Activity

In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business's stock in a transaction 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 of the company's stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the executive vice president now owns 75,404 shares of the company's stock, valued at $5,754,079.24. The trade was 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 company insiders.

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.