ING Groep NV lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 82.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,244 shares of the bank's stock after selling 56,905 shares during the period. ING Groep NV's holdings in Bank of New York Mellon were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. United Advisor Group LLC acquired a new stake in Bank of New York Mellon in the 3rd quarter valued at approximately $595,000. Bessemer Group Inc. increased its holdings in Bank of New York Mellon by 128.8% in the 1st quarter. Bessemer Group Inc. now owns 30,755 shares of the bank's stock valued at $1,771,000 after purchasing an additional 17,312 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Bank of New York Mellon by 1.7% in the 3rd 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 during the last quarter. Ameriprise Financial Inc. increased its holdings in Bank of New York Mellon by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,416,436 shares of the bank's stock valued at $623,891,000 after purchasing an additional 421,161 shares during the last quarter. Finally, Chase Investment Counsel Corp boosted its position in Bank of New York Mellon by 67.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 83,530 shares of the bank's stock valued at $6,002,000 after buying an additional 33,558 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.
Bank of New York Mellon Stock Performance
NYSE BK traded up $0.21 during trading on Monday, reaching $78.50. The company's stock had a trading volume of 1,486,549 shares, compared to its average volume of 3,858,506. The Bank of New York Mellon Co. has a twelve month low of $46.71 and a twelve month high of $80.29. 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 fifty day moving average price is $73.99 and its 200-day moving average price is $66.02. The firm has a market cap of $57.08 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 0.89 and a beta of 1.07.
Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, October 11th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.52 billion. As a group, 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. Shareholders of record on Monday, October 21st were given a dividend of $0.47 per share. The ex-dividend date was Monday, October 21st. This represents a $1.88 annualized dividend and a yield of 2.39%. Bank of New York Mellon's payout ratio is currently 40.87%.
Insider Buying and Selling at Bank of New York Mellon
In other Bank of New York Mellon news, VP Hanneke Smits sold 16,475 shares of the business's 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 directly owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 9.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the sale, the executive vice president now owns 75,404 shares in the company, valued at $5,754,079.24. This trade represents a 24.90 % 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.
Analyst Upgrades and Downgrades
BK has been the subject of several recent research reports. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Royal Bank of Canada reissued a "sector perform" rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Barclays raised their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted 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 report on Monday, October 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.23.
Get Our Latest Stock Report on Bank of New York Mellon
Bank of New York Mellon Profile
(
Free Report)
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.
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