Sumitomo Mitsui Trust Group Inc. Sells 117,246 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,724,132 shares of the bank's stock after selling 117,246 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Bank of New York Mellon worth $123,896,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. McClarren Financial Advisors Inc. boosted its holdings in Bank of New York Mellon by 586.4% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 405 shares of the bank's stock valued at $29,000 after purchasing an additional 346 shares during the period. Olistico Wealth LLC bought a new position in Bank of New York Mellon during the second quarter valued at about $30,000. Clearstead Trust LLC acquired a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $32,000. Family Firm Inc. bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $40,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Bank of New York Mellon by 130.6% during the 3rd quarter. Fortitude Family Office LLC now owns 611 shares of the bank's stock worth $44,000 after purchasing an additional 346 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 0.0 %

NYSE BK traded up $0.03 during trading hours on Thursday, hitting $77.64. 1,840,261 shares of the company traded hands, compared to its average volume of 3,856,871. 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 moving average is $73.56 and its 200-day moving average is $65.66. The stock has a market capitalization of $56.45 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 0.90 and a beta of 1.07. The Bank of New York Mellon Co. has a twelve month low of $46.04 and a twelve month high of $80.29.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted 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. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. Sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared 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. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.87%.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 75,404 shares of the company's stock, valued at $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 available through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated 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 in the company, valued at $5,754,079.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the stock in a transaction that occurred on 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 owns 157,455 shares in the company, valued at approximately $12,040,583.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on BK. The Goldman Sachs Group boosted 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. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Citigroup upped their price objective on Bank of New York Mellon from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, September 19th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $79.00 price target on shares of Bank of New York Mellon in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "buy" rating in a report on Monday. Six research analysts have rated the stock with a hold rating and eight have given 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 an average target price of $77.08.

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.