The Bank of New York Mellon Co. (NYSE:BK) Stock Position Reduced by Van ECK Associates Corp

Van ECK Associates Corp decreased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,258 shares of the bank's stock after selling 19,639 shares during the quarter. Van ECK Associates Corp's holdings in Bank of New York Mellon were worth $9,490,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Ameriprise Financial Inc. lifted 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 worth $623,891,000 after buying an additional 421,161 shares during the period. Victory Capital Management Inc. grew its holdings in Bank of New York Mellon by 2.2% in the second quarter. Victory Capital Management Inc. now owns 8,192,345 shares of the bank's stock worth $490,640,000 after purchasing an additional 179,503 shares during the period. Legal & General Group Plc increased its stake in shares of Bank of New York Mellon by 1.2% during the second quarter. Legal & General Group Plc now owns 8,058,064 shares of the bank's stock valued at $482,597,000 after purchasing an additional 97,286 shares in the last quarter. LSV Asset Management grew its stake in shares of Bank of New York Mellon by 3.9% in the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank's stock worth $453,315,000 after buying an additional 286,820 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Bank of New York Mellon by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 7,252,925 shares of the bank's stock valued at $434,370,000 after buying an additional 454,151 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

BK has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Bank of New York Mellon from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. UBS Group raised their price target on shares of 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. Barclays increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Five 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.69.

Bank of New York Mellon Trading Down 1.1 %

NYSE BK traded down $0.84 on Thursday, reaching $77.36. The stock had a trading volume of 1,785,719 shares, compared to its average volume of 3,858,431. The stock has a fifty day moving average price of $72.56 and a two-hundred day moving average price of $64.94. The Bank of New York Mellon Co. has a 12-month low of $44.32 and a 12-month high of $80.29. The firm has a market capitalization of $57.09 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 0.88 and a beta of 1.07. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.89.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Friday, October 11th. The bank reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate 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, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed 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 2.43%. Bank of New York Mellon's payout ratio is 40.87%.

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.