Thrivent Financial for Lutherans Sells 765,759 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Thrivent Financial for Lutherans reduced its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 39.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,185,361 shares of the bank's stock after selling 765,759 shares during the quarter. Thrivent Financial for Lutherans owned about 0.16% of Bank of New York Mellon worth $85,179,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BK. Blair William & Co. IL raised its stake in Bank of New York Mellon by 1.6% during the 1st quarter. Blair William & Co. IL now owns 21,393 shares of the bank's stock worth $1,233,000 after buying an additional 338 shares during the period. Acadian Asset Management LLC raised its stake in Bank of New York Mellon by 160,472.7% during the 1st quarter. Acadian Asset Management LLC now owns 52,989 shares of the bank's stock worth $3,051,000 after buying an additional 52,956 shares during the period. Ontario Teachers Pension Plan Board raised its stake in shares of Bank of New York Mellon by 180.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 21,404 shares of the bank's stock worth $1,233,000 after purchasing an additional 13,779 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Bank of New York Mellon in the first quarter worth approximately $593,000. Finally, Covestor Ltd raised its stake in shares of Bank of New York Mellon by 31.5% in the first quarter. Covestor Ltd now owns 1,398 shares of the bank's stock worth $80,000 after purchasing an additional 335 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $79.00 price target on shares of Bank of New York Mellon in a research report on Monday, October 14th. Barclays increased their price objective on Bank of New York Mellon from $75.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased 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, November 11th. UBS Group increased their price objective on 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. Finally, Morgan Stanley raised their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.23.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.36 on Monday, reaching $78.65. The company's stock had a trading volume of 2,638,556 shares, compared to its average volume of 3,863,673. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89. The Bank of New York Mellon Co. has a 12-month low of $46.71 and a 12-month high of $80.29. The company has a market capitalization of $57.18 billion, a P/E ratio of 17.02, a PEG ratio of 0.89 and a beta of 1.07. The stock's 50 day simple moving average is $73.99 and its 200-day simple moving average is $66.02.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data 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 return on equity of 12.06% and a net margin of 9.44%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. As a group, equities analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company 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. The ex-dividend date was Monday, October 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.39%. Bank of New York Mellon's payout ratio is 40.87%.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.31, for a total value 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. The trade was a 24.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,259,843.25. Following the completion of the transaction, the vice president now owns 157,455 shares in the company, valued at approximately $12,040,583.85. This represents a 9.47 % decrease in their position. The disclosure for this sale can be found here. Company 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.