M&G Plc Reduces Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

M&G PLC lowered its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 942,376 shares of the bank's stock after selling 41,684 shares during the quarter. M&G PLC owned approximately 0.13% of Bank of New York Mellon worth $67,851,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of Bank of New York Mellon by 99.4% in the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank's stock valued at $157,583,000 after acquiring an additional 1,311,969 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Bank of New York Mellon by 6,040.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank's stock worth $62,154,000 after buying an additional 1,020,906 shares during the last quarter. Swedbank AB purchased a new stake in shares of Bank of New York Mellon during the 1st quarter valued at $35,514,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Bank of New York Mellon by 89.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,216,146 shares of the bank's stock worth $72,835,000 after acquiring an additional 574,319 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in 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 worth $80,529,000 after acquiring an additional 574,185 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Evercore ISI raised their price target on Bank of New York Mellon from $66.00 to $77.00 and gave the company an "in-line" rating in a research report on Monday, October 14th. Morgan Stanley boosted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. StockNews.com raised Bank of New York Mellon from a "hold" rating to a "buy" rating in a research note on Monday, October 14th. UBS Group upped their price objective on shares of Bank of New York Mellon from $73.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Finally, Barclays lifted their target price on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.69.

Bank of New York Mellon Trading Down 0.7 %

BK stock traded down $0.51 during trading on Thursday, reaching $77.69. The company had a trading volume of 3,721,510 shares, compared to its average volume of 3,867,393. 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 Bank of New York Mellon Co. has a 52 week low of $44.32 and a 52 week high of $80.29. The company has a market cap of $57.33 billion, a P/E ratio of 16.89, a PEG ratio of 0.88 and a beta of 1.07. The business has a 50 day moving average of $72.56 and a 200 day moving average of $64.94.

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 the consensus estimate 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 company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.52 billion. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.78 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Monday, October 21st. Bank of New York Mellon's dividend payout ratio is presently 40.87%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the company'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 owns 75,404 shares in the company, valued at approximately $5,754,079.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Hanneke Smits sold 16,475 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.47, for a total transaction of $1,259,843.25. Following the transaction, the vice president now directly owns 157,455 shares of the company's stock, valued at $12,040,583.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 25,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 75,404 shares of the company's stock, valued at approximately $5,754,079.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company's stock.

About Bank of New York Mellon

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.