The Bank of New York Mellon Co. (NYSE:BK) VP Hanneke Smits Sells 16,475 Shares

The Bank of New York Mellon Co. (NYSE:BK) VP Hanneke Smits sold 16,475 shares of the company’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bank of New York Mellon Stock Up 0.6 %

NYSE BK traded up $0.45 on Thursday, reaching $77.75. The company had a trading volume of 3,111,156 shares, compared to its average volume of 3,886,473. The stock has a market capitalization of $58.14 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.16 and a beta of 1.08. The company’s fifty day moving average is $69.26 and its 200 day moving average is $62.83. The Bank of New York Mellon Co. has a 52-week low of $41.15 and a 52-week high of $78.03. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 43.52%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BK. The Goldman Sachs Group boosted their price target 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. Barclays boosted their price target on Bank of New York Mellon from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group boosted their price target on 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. Royal Bank of Canada reissued 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. Finally, Morgan Stanley boosted their price target on Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $76.69.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently bought and sold shares of BK. Virtu Financial LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at $247,000. Syon Capital LLC purchased a new stake in Bank of New York Mellon in the 4th quarter valued at $233,000. HighPoint Advisor Group LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $360,000. Los Angeles Capital Management LLC grew its stake in Bank of New York Mellon by 190.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 35,222 shares of the bank’s stock valued at $2,029,000 after purchasing an additional 23,080 shares during the period. Finally, GAMMA Investing LLC grew its stake in Bank of New York Mellon by 20.1% in the 1st quarter. GAMMA Investing LLC now owns 5,247 shares of the bank’s stock valued at $302,000 after purchasing an additional 877 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Company 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.