Victory Capital Management Inc. Sells 1,517,916 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Victory Capital Management Inc. cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 18.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,674,429 shares of the bank's stock after selling 1,517,916 shares during the quarter. Bank of New York Mellon makes up 0.5% of Victory Capital Management Inc.'s portfolio, making the stock its 27th largest position. Victory Capital Management Inc. owned about 0.90% of Bank of New York Mellon worth $479,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its stake in shares of Bank of New York Mellon by 28.1% during the first quarter. Empowered Funds LLC now owns 10,620 shares of the bank's stock valued at $612,000 after acquiring an additional 2,328 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Bank of New York Mellon by 10.7% during the first quarter. Oppenheimer & Co. Inc. now owns 29,996 shares of the bank's stock valued at $1,728,000 after purchasing an additional 2,903 shares in the last quarter. Atomi Financial Group Inc. raised its position in Bank of New York Mellon by 13.2% in the first quarter. Atomi Financial Group Inc. now owns 5,372 shares of the bank's stock worth $310,000 after acquiring an additional 625 shares during the period. Concurrent Investment Advisors LLC raised its position in Bank of New York Mellon by 7.9% in the first quarter. Concurrent Investment Advisors LLC now owns 7,469 shares of the bank's stock worth $430,000 after acquiring an additional 548 shares during the period. Finally, Williams Jones Wealth Management LLC. raised its position in Bank of New York Mellon by 2.1% in the first quarter. Williams Jones Wealth Management LLC. now owns 10,578 shares of the bank's stock worth $610,000 after acquiring an additional 214 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Down 0.9 %

Shares of BK traded down $0.74 during midday trading on Tuesday, hitting $77.94. 3,461,969 shares of the stock were exchanged, compared to its average volume of 3,859,383. The firm has a market cap of $56.67 billion, a P/E ratio of 17.11, a P/E/G ratio of 0.90 and a beta of 1.07. 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 Bank of New York Mellon Co. has a 52-week low of $45.22 and a 52-week high of $80.29. The stock has a fifty day simple moving average of $73.16 and a 200 day simple moving average of $65.43.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The bank reported $1.52 EPS for the quarter, topping the consensus estimate 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 business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. On average, research 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid 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 2.41%. Bank of New York Mellon's dividend payout ratio is currently 40.87%.

Insider Transactions 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 on 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 completion of the sale, the vice president now owns 157,455 shares in the company, valued at $12,040,583.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP J Kevin Mccarthy sold 25,000 shares of the company's stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Hanneke Smits sold 16,475 shares of the company's stock in a transaction on 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 sale, the vice president now directly owns 157,455 shares of the company's stock, valued at approximately $12,040,583.85. This represents 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.

Analysts Set New Price Targets

BK has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $69.00 to $79.00 and gave the stock an "equal weight" rating in a report on Monday, October 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $79.00 target price on shares of Bank of New York Mellon in a report on Monday, October 14th. Evercore ISI increased their target price on shares of Bank of New York Mellon from $66.00 to $77.00 and gave the company an "in-line" rating in a report on Monday, October 14th. Morgan Stanley increased 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. Finally, The Goldman Sachs Group raised their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.